Bank of America reaches record $16.65B mortgage settlement
Among the cases, the pact covers a lawsuit filed by Anne Tompkins, U.S. Attorney for the Western District of North Carolina, in August 2013 over an $850 million securitization of prime mortgage loans. The bank acknowledged that it marketed the ... [...]
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Bank of America to pay nearly $17B in mortgage pact
Bank of America (BAC) will pay $16.65 billion to settle a federal probe into its mortgage practices in the years leading up to the 2008 financial crisis. The financial giant said Thursday that it has reached a deal with the U.S. Department of Justice ... [...]
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Bank of America (BAC) Makes Whopping Mortgage Settlement
Today's Bank of America settlement with the federal government is a record. The nearly $17 billion deal resolves an investigation into allegations the bank misled purchasers of mortgage-backed securities before the 2008 financial crisis. The settlement ... [...]
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Mortgage rates drift along at or near yearly lows
Mortgage rates continue to float along at or near yearly lows, according to the latest data released Thursday by Freddie Mac. For two months now, rates have shown little movement, ticking up or down a basis point or two but never wandering far. The 30 ... [...]
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Bank of America Reaches $16.65 Billion Mortgage Settlement
“We believe this settlement, which resolves significant remaining mortgage-related exposures, is in the best interests of our shareholders, and allows us to continue to focus on the future,” Bank of America's chief executive, Brian T. Moynihan, said in ... [...]
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AP: BofA in $17B Settlement Over Mortgage Bonds
WASHINGTON (AP) — Bank of America (BAC) has reached a record $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter said ... [...]
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Jackson Hole rally at risk as investors anticipate dovish Yellen
Every time then-Federal Reserve Chairman Ben S. Bernanke spoke at the annual monetary policy symposium in the shadow of Wyoming's Teton mountains since 2007, stocks rallied. With Janet Yellen set to make her first speech to the conference as central ... [...]
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Bank of America agrees to $17bn fine over mortgage fraud – report
America's second largest lender has reached a $17 billion settlement with US federal authorities over selling bad mortgages, according to sources close to the negotiations. The bank will pay out $10 billion in cash and $7 billion for consumer relief ... [...]
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$17 billion mortgage settlement for BofA
The agreement requires the bank to acknowledge making misrepresentations about the quality of its residential mortgage-backed securities itself and in those by Countrywide Financial and Merrill Lynch, according to the officials, who spoke with the AP ... [...]
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