Bank of America Invents New Math


Remember when Bank of America indicated that it would end its foreclosure moratorium in 23 states because its lawyers reviewed over 100,000 documents and found no errors? That statement, it turns out, was based on a sample of 1,000. (Flacks and robo-signers: interchangeable?) And, now that the bank is resubmitting foreclosure documents, it is admitting that it “discovered errors in 10 to 25 out of the first several hundred foreclosure cases it examined starting last Monday.” Sometimes, it seems that it’s okay to hate the player and hate the game.

BofA Finds Foreclosure Document Errors [WSJ]