BofA Hasnt Sold Purchase-Money Loans to Fannie Since Early 2012, But All That Could Change Soon
April 25, 2013
Bank of America earlier this year finally settled its long-running dispute with Fannie Mae over buyback demands, an agreement that may help open a window to the government-sponsored enterprise that has been limited to refinance loans. During the first quarter of 2013, BofA sold $6.52 billion of mortgages to Fannie all of them refinance loans. The company hasnt sold purchase-money mortgages to the GSE since early 2012, when the two broke off new transactions that didnt involve refinancing of existing Fannie loans serviced by the bank. In fact, BofA only sold...