Bank of America agrees to pay Fannie Mae $3.6 billion in mortgage deal settlement also agrees to repurchase for $6.75 billion

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Bank of America agrees to pay Fannie Mae $3.6 billion in mortgage deal settlement also agrees to repurchase for $6.75 billion

Bank of America agrees to pay Fannie Mae $3.6 billion in mortgage deal settlement also agrees to repurchase for $6.75 billion

What w the victims get from these toxic mortgages? What happens to Angelo Mozilo?

 

Bank of America-

Bank of America today announced agreements with the Federal National Mortgage Association (Fannie Mae) to resolve outstanding and potential repurchase and certain other claims relating to the origination, sale and delivery of substantially all residential mortgage loans originated and sold directly to Fannie Mae from January 1, 2000 through December 31, 2008 by entities related to Countrywide Financial Corporation (legacy Countrywide) and Bank of America, National Association (BANA).

In addition, Bank of America announced that it signed definitive agreements to sell the servicing rights on 2.0 million residential mortgage loans totaling approximately $306 billion, as measured by the aggregate unpaid principal balance (as of November 30, 2012).

“As we enter 2013, we sharpen our focus on serving our three customer groups and helping to move the economy forward,” said Bank of America Chief Executive Officer Brian Moynihan. “Together, these agreements are a significant step in resolving our remaining legacy mortgage issues, further streamlining and simplifying the company and reducing expenses over time.”

[BANK OF AMERICA]

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One Response to “Bank of America agrees to pay Fannie Mae $3.6 billion in mortgage deal settlement also agrees to repurchase for $6.75 billion”

  1. JIMI says:

    AS SOON AS THEY SETTLE AND BANK OF AMERICA PAYS IT IS TIME TO SUE THEM ALL OVER AMERICA FOR ROBO SIGNING AND FOR STEALING PEOPLE HOMES ALL OVER AMERICA

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