Bank of America Settles with Fannie Mae for $10 Billion+ – Fannie Mae As “Simple Jack

Discussion in 'Politics' started by Wehrwolfen, Jan 7, 2013.

  1. Wehrwolfen
    Offline

    Wehrwolfen Senior Member

    Joined:
    May 22, 2012
    Messages:
    2,752
    Thanks Received:
    338
    Trophy Points:
    48
    Ratings:
    +339
    Bank of America Settles with Fannie Mae for $10 Billion+ – Fannie Mae As “Simple Jack”​





    By Anthony B. Sanders
    01/07/2012

    Bank of American had a bad day. First, they were a party to the latest government refinancing program (the $10 billion dollar foreclosure abuse settlement). Second, Bank of America has settled with mortgage giant Fannie Mae. WASHINGTON — Bank of America Corp. said Monday it had agreed to pay more than $10 billion to Fannie Mae to settle claims related to troubled mortgages sold largely by Countrywide Financial Corp. during the subprime housing boom. First of all, it was a housing boom, not just a subprime housing boom. Second, the government mortgage giants Fannie Mae knew that a large percentage...

    [Excerpt]

    Read more:
    Bank of America Settles with Fannie Mae for $10 Billion+ Over Countrywide Loans – Fannie Mae As “Simple Jack” « Confounded InterestBank of America Settles with Fannie Mae for $10 Billion+ Over Countrywide Loans – Fannie Mae As “Simple Jack” « Confounded InterestBank of America Settles with Fannie Mae for $10 Billion+ Over Countrywide Loans – Fannie Mae As “Simple Jack” « Confounded Interest
     

Share This Page