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

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Bank of America to pay $11.6 bn in Fannie Mae deal – 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 mortgage loans it had sold to the government-controlled firm. In addition, Bank of America will pay $1.3 billion to address mortgage servicing issues, Fannie Mae said in a separate statement.

In the 3rd quarter they added over $48 billion of agency MBS, and in the 4th quarter added another $38 billion. Most of this was in Fannie/Freddie product. Angeles approved a deal in which Bank of.

Bank of America will make a US$3.6-billion cash payment, spend US$6.75-billion to buy back residential loans sold to Fannie Mae, and pay US$1.3-billion in fees for taking too long to assist or.

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.

Tourists walk past a Bank of America banking center in Times Square in New York in this June 22, 2012 file photograph. Bank of America Corp said it will pay $3.6 billion to Fannie Mae to settle.

In settlement of these claims, Bank of America has agreed to pay Fannie. of a $1.3 billion tax benefit from all the above, it expects to be able to report a "modest" profit in Q4 despite the.

Five years after the mortgage meltdown sparked a wave of home foreclosures. two sprawling mortgage agencies Fannie Mae and Freddie Mac. Together, the two agencies hold or guarantee some 57 percent.

Also, in January, Bank of America agreed to pay $10.3 billion to Fannie Mae to settle a lawsuit concerning. "We continue to push through the process of cleaning up the delays and foreclosures. We.

The regulator for Fannie Mae and Freddie Mac, as well as dozens of investors, on Tuesday lodged objections to Bank of America Corp’s proposed $8.5 billion mortgage-backed securities settlement.

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