With $300B of delinquent loans, Fannie (FNM) and Freddie (FRE) are checking files for...

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

With $300B of delinquent loans, Fannie (FNM) and Freddie (FRE) are checking files for underwriting flaws and forcing banks to repurchase those loans. The biggest losers are likely to be BofA (BAC), JPMorgan (JPM) and the mortgage giants themselves, who will still be stuck with billions of dollars in properly-documented delinquent mortgages.