In its statement announcing the settlement, BofA stressed, “The claims relate primarily to conduct that occurred at Countrywide and Merrill Lynch prior to Bank of America's acquisition of those entities.”
Most servicing advisors – and stock analysts – continue to believe Ocwen will complete the Wells deal, probably sometime this fall. “Who else is willing to buy it?” said one source.
Among the banks reporting that the rules had no effect on their approval rates, half indicated that lending policies would have been tighter without the safe harbor for mortgages that pass the GSEs’ automated underwriting models.