BofA’s ‘Comprehensive Resolution’ to Buyback Dispute With Fannie May Not Spur New Business
January 10, 2013
Bank of America and Fannie Mae this week announced a multibillion dollar settlement of their longstanding dispute over outstanding and potential repurchase claims from the government-sponsored enterprise dating back through much of the last decade. The “comprehensive resolution” covers current and future repurchase obligations related to loans with an outstanding balance of $297 billion, as of Nov. 30, 2012, that were originated by Countrywide Financial and Bank of America and sold to Fannie from Jan. 1, 2000, through Dec. 31, 2008. BofA will make...
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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