BofA confronts $2B in bad home equity loan

Filed under: AM Roundup |

When it releases its financial information, Bank of America is expected to say about $2 billion of junior home equity loans are bad assets, even as some borrowers are paying on time, says Bloomberg.

That’s what Barclays Capital Inc. estimates the bank will report in its first-quarter results, following decisions by JPMorgan Chase & Co., Wells Fargo and Citigroup Inc. to reclassify $4.1 billion of junior liens as nonperforming.

Read more at Bloomberg.