Volume 29 - Number 50
January 10, 2013
BofAs Comprehensive Resolution to Buyback Dispute With Fannie May Not Spur New Business
Bank of America and Fannie Mae this week announced a multibillion dollar settlement of their longstanding dispute over outstanding and potential repurchase claims from the government-sponsored enterprise dating back through much of the last decade. The comprehensive resolution covers current and future repurchase obligations related to loans with an outstanding balance of $297 billion, as of Nov. 30, 2012, that were originated by Countrywide Financial and Bank of America and sold to Fannie from Jan. 1, 2000, through Dec. 31, 2008. BofA will make...
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