Bank of America Corp. has agreed to pay $10.3 billion to Fannie Mae to resolve claims related to the sale of home mortgages. Separately, 10 lenders agreed to an $8.5 billion settlement with federal regulators to resolve claims of abuse related to foreclosure processing and mortgage loan servicing.
January 08, 2013 at 11:23 AM
1 minute read
Bank of America Corp. has agreed to pay $10.3 billion to Fannie Mae to resolve claims related to the sale of home mortgages. Separately, 10 lenders agreed to an $8.5 billion settlement with federal regulators to resolve claims of abuse related to foreclosure processing and mortgage loan servicing.
Under the terms of the Fannie settlement, announced on Monday, the bank will pay the government-sponsored enterprise $3.55 billion and repurchase 30,000 loans valued at an additional $6.75 billion.
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