Holders of mortgage bonds may be facing billions of dollars of undisclosed losses after a review...
Holders of mortgage bonds may be facing billions of dollars of undisclosed losses after a review of investor documents showed that individual houses are being reported as being in foreclosure long after they've been sold or the loans paid off. The reporting lag has enabled banks and servicers to continue charging investors monthly fees, and could lead to new litigation. The companies involved include Bank of New York Mellon (BK), Wells Fargo (WFC), Ocwen Financial (OCN) and Bank of America (BAC).
From other sites
Bank of New York Mellon : Funded Status of U.S. Corporate Pensions Rises to 90 Percent, According to BNY Mellon ISSGat 4-traders.com (Mon, 11:14AM)
at Financial Times (Apr 12, 2015)
at CNBC.com (Apr 9, 2015)
at 4-traders.com (Mar 25, 2015)
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