Bank of America in $10 billion-plus mortgage settlement

Associated Press

Monday, Jan. 7, 2013 | 8 a.m.

CHARLOTTE, N.C. — Bank of America says it will spend more than $10 billion to settle mortgage claims resulting from the housing meltdown. Under the deal announced Monday, the bank will pay $3.6 billion to Fannie Mae and buy back $6.75 billion in loans that the North Carolina-based bank and its Countrywide banking unit sold to the government agency from Jan. 1, 2000 through Dec. 31, 2008. That includes about 30,000 loans. Its shares briefly edged up 9 cents to $12.20 in morning trading, its highest level since May 2011. CEO Brian Moynihan said the agreements were "a significant step" ...

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By Warrior

Jan. 7, 2013

8:29 a.m.

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July 2008 is when America turned stupid. Liberal loons in the media and the Democrat party destroyed the economy with their campaign rhetoric that continues it's devastation even today. A neighbor let me read a letter from a Bank of America lawsuit settlement that said he possibly qualifies for a mortgage interest rate and principal reduction, how do you qualify for THAT? Quit making your payment.
By casinokid

Jan. 7, 2013

2:55 p.m.

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I've said all along that Fannie Mae And Freddie Mac were victims Simply because they don't make LOANS, They are in the secondary market.