Bank of America selling $1.2B in delinquent home loans | 2015-08-07

Bank of America (BAC) is selling $1.2 billion of mostly delinquent home loans, meeting investor demand for soured mortgages. Per Bloomberg:

The company is selling five pools consisting of nonperforming debt, loans that have been modified and resumed payment, and some that haven't defaulted, according to a person with knowledge of the matter. Four of the pools are being serviced Bank of America and one is managed by Ocwen Financial Corp., said the person, who asked not to be identified because the planned sale is private.

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