U.S. housing regulators seek over $6 billion from BofA

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U.S. housing regulators seek over $6 billion from BofA

U.S. housing regulators seek over $6 billion from BofA

Who’s really paying this off? What loans are involved in this bribe?


Reuters-

U.S. housing regulators are looking to fine Bank of America more than $6 billion for its role in misleading mortgage agencies during the housing boom, compared with the $4 billion to be paid by JPMorgan Chase & Co, the Financial Times reported on its website, citing people familiar with the matter.

The FT said the Federal Housing Finance Agency (FHFA), pursuing claims on behalf of finance agencies Fannie Mae and Freddie Mac that back about half the existing U.S. home loans, are seeking the penalty.

[REUTERS]

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