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Bank of America Corporation Q3 2008 Earnings Call Transcript
...We continue to see deterioration in our community reinvestment act portfolio which totals some 7% of the residential book. Additionally, California and Florida which combined comprise 42% of the legacy Bank of America balances drove 62% of the net losses through August.

The annualized loss rate from the CRA book was 1.26% and represented 29% of the residential mortgage net losses. ...