Views Mixed on Bank of Americas Countrywide MBS Settlement; Some Investors Raise Doubts
July 8, 2011
Although 22 large investors and Bank of America think they reached a reasonable deal to resolve massive buyback claims on some $221 billion of outstanding Countrywide non-agency MBS, some outside analysts and other investors arent so sure. The pending agreement, which has to be approved by the court, requires Bank of America to pay $8.5 billion that would be distributed according to the deals that suffered the biggest losses. In return, the bank would get significant ...