The precedent set by the recent Bank of America MBS settlement raises concerns for smaller banks that might not be able to absorb large settlements as well.
Processing Content
“The worry is that some of the smaller regional banks are going to be hit a lot harder than someone who is the size of Bank of America that can absorb such a large settlement,” real estate attorney Edward Mermelstein of Rheem Bell & Mermelstein LLP, New York, told this publication.
“Those are the ones I think we should be worried about in terms of surviving any pressure in terms of any large settlement,” he said.
