{"id":5584,"date":"2014-03-29T00:00:00","date_gmt":"2014-03-29T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/03\/bank_of_america_settles_mortga"},"modified":"2022-05-05T12:31:43","modified_gmt":"2022-05-05T17:31:43","slug":"bank-of-america-settles-mortga","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/bank-of-america-settles-mortga\/","title":{"rendered":"Bank of America Settles Mortgage Bond Claims with FHFA for $9.3B"},"content":{"rendered":"\n

Bank of America (BAC)<\/a> will pay $9.3 billion to settle securities claims that it sold faulty mortgage bonds to Freddie Mac (FMCC) and Fannie Mae (FNMA). The deal, reached with the Federal Housing Finance Agency, includes $3.2 billion in securities that the bank will buy from the housing finance entities and a cash payment of $6.3 billion.<\/p>\n

The mortgage bond settlement resolves securities lawsuits against the bank, Countrywide, and Merrill Lynch (MER)<\/a>. FHFA, which regulates both Freddie Mac and Fannie Mae, accused Bank of America of misrepresenting the quality of the loans behind residential mortgage-backed securities<\/a> that the mortgage financing companies purchased between 2005 and 2007. <\/p>\n

This is the 10th of 18 securities lawsuits reached by the FHFA over litigation involving around $200 billion in mortgage-backed securities. To date, it has gotten back over $10 billion over such claims. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Bank of America (BAC) will pay $9.3 billion to settle securities claims that it sold faulty mortgage bonds to Freddie Mac (FMCC) and Fannie Mae (FNMA). The deal, reached with the Federal Housing Finance Agency, includes $3.2 billion in securities that the bank will buy from the housing finance entities and a cash payment of […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3751,3752,3922,3741],"tags":[],"class_list":["post-5584","post","type-post","status-publish","format-standard","hentry","category-bank-of-america","category-financial-firms","category-municipal-bonds","category-securities-fraud"],"yoast_head":"\nBank of America Settles Mortgage Bond Claims with FHFA for $9.3B — Investor Lawyers Blog — March 29, 2014<\/title>\n<meta name=\"description\" content=\"Bank of America (BAC) will pay $9.3 billion to settle securities claims that it sold faulty mortgage bonds to Freddie Mac (FMCC) and Fannie Mae (FNMA). — March 29, 2014\" \/>\n<meta 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