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BofA pays $1.3 billion to Fannie, Freddie for foreclosure delays

A sum of nearly $1.3 billion in a government fine would put most businesses out of business. However, if your corporate name is Bank of America Corp. (NYSE: BAC) or one of the other too big to.

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WASHINGTON — Bank of America Corp. said Monday it had agreed to pay more than $10 billion to Fannie Mae to settle claims related to troubled mortgages sold largely by.

 · Storm clouds are gathering for Bank of America despite this week’s settlement with Fannie Mae and Freddie Mac, which was designed to help contain BofA’s cost to.

Jan 7 (Reuters) – Bank of America Corp on Monday entered an $11.6 billion settlement to end Fannie Mae’s claims that the bank improperly sold it mortgages that later soured, and to resolve.

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Nationstar had just won the rights to collect payments on a separate 5 billion mortgage portfolio, and Fannie and Freddie. have agreed to pay out billions of dollars in settlements and homeowner.

Bank of America on monday announced roughly $11.6 billion of settlements with mortgage finance company Fannie Mae and a $1.8 billion sale of collection rights on home loans, in a series of deals.

BofA agreed to make a cash payment of $3.6 billion to Fannie Mae and repurchase $6.75 billion of certain residential mortgage loans that were sold to the government-controlled mortgage giant.

Bank of America Corp on Monday entered an $11.. A separate settlement over foreclosure delays will result in Bank of America paying $1.3 billion to Fannie Mae, the mortgage company said..

Nationstar had just won the rights to collect payments on a separate $215 billion mortgage portfolio, and Fannie and Freddie. have agreed to pay out billions of dollars in settlements and homeowner.

BofA had to pay $1.3 billion in penalties to Fannie Mae and Freddie Mac in the first nine months of 2011 because of the delays, the bank disclosed in a Securities and Exchange Commission filing.

Bank of America to pay $11 billion to settle Fannie Mae claims – BANK of America says it will pay US$11.6 billion (A$11.1 billion) to settle claims on soured loans sold to government-backed mortgage finance giant fannie mae during the home price bubble.

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Multifamily Finance 202 with James Eng (Fannie Mae Loan- Advanced Topics) Bank of America Pays Billions in Mortgage Settlements – Bank of America Pays Billions in Mortgage Settlements.. $1.3 billion to cover the costs of foreclosure problems and delays. This money goes to Fannie Mae. Also on Monday, Bank of America and.