CLEAN UP ISLE 1 | BofA Sells Part of Mortgage Portfolio to Fannie Mae

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CLEAN UP ISLE 1 | BofA Sells Part of Mortgage Portfolio to Fannie Mae

CLEAN UP ISLE 1 | BofA Sells Part of Mortgage Portfolio to Fannie Mae

Taxpayers CONTINUE TO GET RAPED!

Once more… it was just last week that Fannie Mae seeks $5.1 billion more from taxpayers, now we see her buying questionable TOXIC ASSETS!

WSJ

Bank of America Corp. has agreed to sell part of its home-loan portfolio to government-controlled housing giant Fannie Mae, as the bank looks to shed assets and pare its exposure to an array of mortgage woes.

The deal, finalized last Friday, will deliver the rights to process and collect payments on a pool of 400,000 loans with an unpaid principal balance of $73 billion, people familiar with the deal said. The purchase price is more than $500 million, one of these people said.

[WALL STREET JOURNAL]


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