News Article

Bank of America in $10bn mortgage settlement - Telegraph

Via telegraph.co.uk » Submitted On Mon, 01/07/2013 - 5:53pm by David Sincere

The settlement includes a $3.6bn payment to Fannie Mae. Bank of America will also buy back some of the loans sold to Fannie Mae for $6.75bn. Its stock gained more than 2pc in pre-market trading. Bank of America bought Countrywide Financial in July 2008, just before the financial crisis.

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