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Bank of America Gets Out of The Game At A Price

Below is the latest article generating out of Washington with specificity to Bank of America attempting to shed the dead weight of foreclosures.

WASHINGTON, D.C. – Fannie Mae (FNMA/OTC) today announced a comprehensive resolution with Bank of America, including a $10.3 billion agreement on existing and prospective repurchase requests on a specified population of loans and an additional payment of $1.3 billion to address servicing issues.

The agreement covers current and future repurchase obligations related to loans with an outstanding unpaid principal balance of $297 billion as of November 30, 2012 that were originated between January . . .

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Paul Williams
Paul Williams
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