Volume 2014 - Number 17
May 2, 2014
DOJ in New Settlement Talks with BofA, Citigroup; FHFA Announces Settlements with Barclays, First Horizon
Several big banks are in various phases of negotiation with the federal government to resolve alleged violations of federal and state securities laws in connection with legacy non-agency MBS. Bank of America is in new settlement talks with the Department of Justice over residential MBS backed mostly by faulty loans stemming from BofA’s acquisition of Countrywide Financial Corp. and Merrill Lynch & Co., which securitized the loans and sold the bonds to investors. The tentative talks could cost...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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