Bank of America's (BAC -4.9%) head of home lending says outside estimates of costs stemming from...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America's (BAC -4.9%) head of home lending says outside estimates of costs stemming from delays in foreclosures are “grossly distorted," with fewer than 30,000 sales likely to be affected. BofA, which handles billing and collection for 1.4M home loans, says it believes that industry practices in transferring home loans to securitization trusts are valid.