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Bank of America’s rosy housing outlook

Posted on 13 May 2011

The lender is betting a recovery that will limit new losses in mortgage loans is coming sooner than many analysts—including its own economist—believe . Bank of America (BAC) is betting a recovery in home prices this year will allow it to avoid new losses on mortgage loans.
That outlook clashes with the views of some independent analysts—and its own economist. Chief Executive Officer Brian T. Moynihan’s credibility is riding on the outcome as he seeks to convince investors that the lender can curb costs from bad mortgages……………………………………….Full Article: Source


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