BofA Hit Lows As FDIC Chief Says Servicers' Issues Could Be "Very Damaging", "More Problems" To Arise In Mortgage Servicing

Hat tip to Zerohedge:


FDIC Chief Sheila Bair admits:

• BAIR: LITIGATION FROM SERVICER ISSUES COULD BE `VERY DAMAGING'



• BAIR SAYS FORECLOSURE PROBLEMS WILL REQUIRE `GLOBAL SOLUTION'


• BAIR: CRISIS REQUIRES `DECISIVE' ACTION FOR MORTGAGE SYSTEM


• BAIR: FDIC SECURITIZATION RULES `CONSISTENT' WITH DODD-FRANK


And the kicker:


• BAIR SAYS CRISIS REVEALED `CRITICAL FLAWS' IN MORTGAGE FINANCE


And Bair continues being on a roll:


• BAIR SAYS GOVERNMENT SUPPORT MUST BE EXPLICIT IF OFFERED


• BAIR SAYS `MORE PROBLEMS' WILL ARISE IN MORTGAGE SERVICING