Bank of America to Create Unit to Handle Toxic Loans

http://dealbook.nytimes.com/2011/02/04/bank-of-america-to-create-un...

Has anybody heard of this new unit of Bank of America or have any idea how it might impact short sales with the lender?

Replies to This Discussion

Permalink Reply by Maya Thomas on February 4, 2011 at 8:37pm

BoA announced this after the closing bell. It appears to be an effort to increase the share price of non toxic assets and create stability of the BoA share price. Wall Street speculation about the impact of toxic assets and the resulting uncertainty has been depressing share price. BoA could sell the assets, but that is unlikely. BoA has been hiring staff to service short sales and plans to keep the staff for 2 years.

RSS

Welcome to
Short Sale Superstars

Sign Up
or Sign In

Or sign in with:

Members

View All

Badges | Report an Issue | Terms of Service

Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.