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Fannie, Freddie Score $2.5B+ From BofA To Settle Crappy Loan Buyback Demands; Requests For $10B+ From Other Banks Still Outstannding

By r morris

The New York Times reports: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 Fannie and Freddie at the height of the mortgage bubble. The

Full post as published by The Home Equity Theft Reporter on January 05, 2011 (boomark / email).