Bloomberg-
Can you ever count paying out billions of dollars to settle claims as a victory? When it comes to mortgages, you sure can. Today brought two big mortgage settlements, one for homeowners, and one for Fannie Mae, which is getting billions of dollars from Bank of America Corp. The Market Now has had a bit of time to delve into the Bank of America settlement.
It looks like a good deal for Bank of America when you look at the number of loans involved. And probably an even better deal when you think in terms of the overall damage to the economy that came from bad mortgage loans.