Photographer: Gianluca Colla/Bloomberg
In the mortgage bond boom, banks and hedge funds, not homeowners and debtors, stand to gain most.
The winners in a Federal effort to keep housing afloat are banks, investors, and a limited group of homeowners. The losers are those who who buy homes expecting they will gain value over the next decades.
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Amount Bank of America will pay in its latest mortgage-loan related penalty. BofA has booked more $70 billion in home-loan related expenses under current chief Brian Moynihan, mostly related to the 2008 Countrywide takeover.
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