Bank of America to pay $11.6B in Fannie Mae deal

In this Dec. 13, 2012, photo, a customer stops at a Bank of America ATM office in Boston. Bank of America Corp. said Monday, Jan. 7, 2013, it would pay $11.6 billion to settle claims on soured loans sold to government-backed mortgage finance giant Fannie Mae during the home price bubble. AP PHOTO/CHARLES KRUPA

WASHINGTON—Bank of America said Monday it would pay $11.6 billion to settle claims on soured loans sold to government-backed mortgage finance giant Fannie Mae during the home price bubble. Under the agreements, Bank of America Corp. said it would pay $3.55 billion in cash to Fannie Mae and repurchase for $6.75 billion some residential [...]

Posted: January 7th, 2013 in Latest Business Stories | Read More »

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