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Bank of America to Pay $3.6B to Settle Residential Mortgage Loan Issues

CHARLOTTE, N.C. - (Mealey's) Bank of America Corp. will pay $3.6 billion to Fannie Mae and repurchase $6.75 billion in certain residential mortgage loans sold to Fannie Mae to resolve certain issues "relating to the origination, sale and delivery of substantially all residential mortgage...

Bank of America to Pay Freddie Mac $404M Over Sale of Subprime Mortgage Loans

CHARLOTTE, N.C. — (Mealey’s) Bank of America Corp. announced on Dec. 2 that it has reached an agreement with Freddie Mac to pay $404 million “to resolve all remaining representations and warranties claims for residential mortgage loans sold to Freddie Mac through the end of 2009.”...

Bank of America to Pay $9.3B to Settle FHFA Securities Claims

WASHINGTON, D.C. — (Mealey’s) Bank of America Corp. on Wednesday agreed to pay $9.3 billion to settle claims in four separate lawsuits that it, as well as Merrill Lynch & Co. and Countrywide Financial Corp., sold toxic, private-label, residential mortgage-backed securities (RMBS) to Fannie...

Rothstein Ponzi Victims Sue Bank of America For $385 Million, Punitive Damages

Victims of Scott Rothstein's massive $1.2 billion Ponzi scheme have sued banking juggernaut Bank of America (the "Bank"), claiming that, despite knowing of the fraud, the Bank and its executives shepherded investors to Rothstein's scheme with the hopes of landing Rothstein as a banking...