February 28, 2013 / 9:46 PM / 4 years ago

Bank of America details potential MBS buyback, legal costs

1 Min Read

Feb 28 (Reuters) - Bank of America Corp may incur another $4 billion in losses on future repurchases of troubled mortgage securities, as well as up to $3.1 billion in legal losses beyond the amount it has reserved, the bank said in a securities filing on Thursday.

The second-largest U.S. bank by assets also said its litigation expenses, excluding lawyer costs, fell 25 percent last year, to $4.2 billion from $5.6 billion in 2011.

Bank of America detailed the expenses and potential losses in its annual filing with the U.S. Securities and Exchange Commission.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below