Bank of America Settlement May Bode Well for Mortgage Insurershttp://www.fool.com/investing/general/2012/07/24/bank-of-america-settlement-may-bode-well-for-mortg.aspx Amanda Alix
July 24, 2012
The mortgage crisis has certainly taken its toll on the mortgage insurance industry, and, despite some bright spots, these companies continue to struggle. Some recent lawsuit settlement news may bring some cheer, however, as it just might signal a turning of the tide in favor of insurers battling banks over toxic mortgage loans.
Plenty of grist for the lawsuit mill
Bank of America, which faces boatloads of suits alleging fraud in mortgages written by its 2008 acquisition, is also embroiled in litigation with MBIA (NYSE: MBI