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Bank of America reaches multi-billion dollar deal with Fannie Mae

The assertions in the Bank of America suit, however, do not shed much new light on the mortgage mess. The Federal Housing Finance Agency last year sued 17 big banks over losses sustained by Fannie Mae and Freddie Mac over different mortgage-related products.

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Bank of America, Fannie Mae Agree to Multi-Billion dollar settlement. bank of America announced a $10.3 billion settlement with Fannie Mae Jan. 7 that resolves legacy mortgage repurchase claims, HousingWire reported. The bank agreed to pay Fannie $3.6 billion in cash and to repurchase $6.75 billion in residential loans it had sold to the.

Bank of America has reached a settlement with Fannie Mae on residential mortgage loans sold by the bank and its Countrywide unit to the agency ahead of the nation’s 2008 financial crisis. The settlement includes a $3.6 billion payment to Fannie Mae. Bank of America will also buy back some of the loans sold to Fannie Mae for $6.75 billion.

Bank of America has already reached multi-billion dollar settlements with Fannie Mae and Freddie Mac, and has said it has up to $10 billion in additional mortgage-related liability. The bank is widely.

Bank of america announced monday that it had paid more than $2.5 billion to buy back troubled mortgages and resolve related claims from Fannie Mae and Freddie Mac – deals that may prompt a wave of such settlements by big banks. The agreements center on home loans that Countrywide Financial sold to.

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Bank of America reached an $11.6 billion settlement with Fannie Mae on Monday, putting the banking giant a step closer to putting the countrywide mortgage shenanigans of the 2000s to rest.

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NEW YORK – Bank of America reached an $11.6 billion settlement with government mortgage agency Fannie Mae to settle claims resulting from mortgage-backed investments that soured during the.

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Bank Of America Reaches $9.5 Billion Settlement With FHFA – Government-sponsored mortgage-finance giants Fannie Mae and Freddie Mac demanded compensation from Bank of America for losses on securities that were backed by faulty loans given out during the time of the housing boom. The Bank of America (BofA) has agreed to settle the claims made by Fannie Mae and Freddie Mac by paying the finance companies $9.5 billion, LA Times said.