And the release also states, "Bank of America concealed important risks associated with the mortgages backing the BOAMS
These misstatements and omissions concerned the quality and safety of the mortgages collateralizing the BOAMS
2008-A securitization, how it originated those mortgages and the likelihood that the 'prime' loans would perform as expected," the Justice Department said in its statement.
The underlying collateral pool for BOAMS
2005-I, classes 2-A-1 and 2-A-5 consisted of 5-year hybrid loans.
4% interest in the class 2-A-2 mortgage pass-through certificates from BOAMS
series 2005-3 Trust which represents beneficial ownership interest in fixed-rate, conventional, first lien residential mortgage loans, substantially all of which have original terms to stated maturity of 30 years.