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Real Estate & Property Law

: The Home Equity Theft Reporter

BofA's "Pennies On The Dollar" Settlement With Fannie, Freddie Over Sale Of Crappy Mortgages A "Backdoor Bailout" Of Bank By Federal Government?

By r morris

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The New York Post reports:Bank of America is getting blasted with accusations of a "backdoor bailout" for its $2.8 billion settlement with Fannie Mae and Freddie Mac over billions of bad mortgages. Fannie and Freddie, which are wards of the government, accepted pennies on the dollar to settle a dispute over billions of faulty mortgages the bank sold to the pair during the housing bubble.Bank of

Full post as published by The Home Equity Theft Reporter on January 07, 2011 (boomark / email).

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