Competition to book loans? Speaking on the earnings call, Bank of America (BAC) CFO Bruce Thompson says the bank is closing loans at wider spreads in Q1 than it was last quarter. Litigation costs were $900M, or $0.06/share in Q1 (vs. earnings of $0.20). The bank estimates (presentation slides) recent settlements bring to about 80% the resolution of all Countrywide-related claims. Shares -2.9% premarket.
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