Bank of America may sell mortgage assets following Countrywide Financial buyout on 100 Mortgages

We spoke earlier about Countrywide workers fear Bank of America Corp will cut severance, there is now rumors that the second-largest U.S. bank, might be selling off mortgage assets after purchasing Countrywide Financial Corp.

It seems that BofA has had to make this choice because the balance sheets are constrained, these are to do with their agency mortgage bonds, as yet though Bank of America has not yet commented on this.

In other Bank of America news, their charitable foundation has decided to select five high school students. These will be in the Richmond area and will to participate in a leadership summit in Washington D.C on July 13 to 18 2008.

These five students will join more than 200 other students from across the U.S., where they will learn how civic, non-profit and business leadership work together, it is also hoped that together these students will be able to create a vibrant community and strong economy.

As part of this program, these students will participate in an eight-week summer internship for a local non-profit organization, this is a paid program.

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