Another Big Problem For Bank Of America

Bank america bofa

Photo: Wikimedia

Bank of America has been the poster-boy for post-crisis mortgage headaches, and its stock has been a total dog for most of the year.Now: More problems in the form of a brand new investigation into mortgage securitization and foreclosures.

According to HuffPo’s Shahien Nasiripour, New York AG Eric Schneiderman is looking at the bank, and potentially thousands of mortgage securities and related foreclosures.

Details of this specific investigation are somewhat scarce — its in its early weeks — but everyone is familiar with the broad contours of the problem here. There are all kinds of questions over whether the proper legal processes were undertaken, at every step of the process.

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