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Volume 2014 - Number 12

March 28, 2014

Downloads Available: FHFA Non-Agency MBS Settlements - March 2014 Update


BofA’s $9.3 Billion Settlement Doubles Overnight FHFA’s MBS Litigation Recovery; S&P Moves to Split Fraud Trial

With just one accord this week, the Federal Housing Finance Agency more than doubled the amount it has recovered on behalf of Fannie Mae and Freddie Mac from issuers and underwriters that sold subprime and Alt A MBS to the government-sponsored enterprises. Bank of America agreed to a $9.3 billion settlement that covers its own dealings as well as those of Countrywide Financial and Merrill Lynch, which it acquired in 2008. The agreement covers some $57 billion of MBS issued or underwritten by these firms. BofA did not admit...[Includes one data chart]

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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