Bank of America to Repurchase $330M From Freddie MBS Pools, But Still Faces Huge Unresolved Claims
May 24, 2012
Freddie Mac announced this week that investors in certain of its mortgage-backed securities would see an unexpected increase in prepayment speeds after the government-sponsored enterprise resolved certain contractual matters with one of its seller/servicers. Bank of America was the issuer of the $1.29 billion of affected MBS pools, which were issued between July 2009 and June 2011, according to an Inside Mortgage Finance analysis. Freddie Mac said the total amount to be repurchased is $330 million, which would represent a small fraction of the $8.1 billion in outstanding...(Includes one data chart)