Blackstone continues to expand its presence in the mortgage industry on several fronts. In late January, it bought Interactive Mortgage Advisors, a Denver-based servicing advisory firm.
A spokesman for BofA declined to provide any color on the mark, but provided a link to past financial filings where the bank talks about its hedging activities which are based on “model and other cash flow” assumptions.
“Investors are taking the conservative approach,” said the Morrison & Foerster attorney. “No one wants to be the test case. They’re all worried about what a court might say.”