Monday, January 3, 2011

Bank of America in $3 billion mortgage settlement

"Bank of America has reached a $3 billion agreement with Freddie Mac and Fannie Mae to resolve a faulty mortgage loan dispute involving Countrywide Financial Corp.

Bank of America said that it paid nearly $1.3 billion to Freddie Mac and more than $1.3 billion to Fannie Mae on Dec. 31."

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Bank of America in $3 billion mortgage settlement

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