Logo
BusinessBusiness

Bank of America is fighting various lawsuits over more than $375 billion in mortgage-backed securities offerings that allege it misrepresented to investors the quality of home loans in the investment pools, the largest US bank by assets disclosed in a filing yesterday.

The figure is Bank of America’s first complete estimate of the securities at the heart of a growing legal push by investors to force US banks to rebuy billions in delinquent mortgages.

Investors, who are most commonly asking courts to certify class-action cases, allege the banks made material misstatements and cut corners in creating the mortgages.

The suits seek unspecific compensatory damages and, in some cases, a repurchase of the mortgage by the bank, Bank of America said in its report filed with the US Securities and Exchange Commission.

Comments
anonymous profile image
Powered by RoundtableBuilt on infrastructure designed for real-time media. Learn more at RTB.io.© Roundtable 2026. By using this site you agree to the Terms of Use and Privacy Policy