Under the terms of the Fannie Mae settlement, Bank of America will pay the government-sponsored enterprise $3.55 billion and repurchase 30,000 loans valued at an additional $6.75 billion. A separate settlement involving 10 lenders will resolve claims of abuse related to foreclosure processing and mortgage loan servicing.
BofA, Other Banks Reach Settlement With Regulators Over Foreclosure Claims
New York Law Journal
January 8, 2013
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