An OIG-HUD audit finds Bank of America (BAC) should face fraud charges related to the sloppy...

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

An OIG-HUD audit finds Bank of America (BAC) should face fraud charges related to the sloppy handling and servicing by its Countrywide unit on loans for federally insured mortgages. Of the loans audited, BofA batted .500 in showing "material underwriting deficiencies."