TITLE

BofA $8 Billion Mortgage Deal Before Judge After 2 Years

PUB. DATE
June 2013
SOURCE
Insurance Broadcasting;6/4/2013, p31
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that New York judge Justice Barbara Kapnick is considering the 8.5 billion U.S. settlement of the Bank of America Corp. with mortgage-bond investors two years after the lender struck the deal to resolve claims over home loans bundled into securities. The settlement is part of an effort to clear up liabilities tied to the purchase of homelender Countrywide Financial in 2008. If the settlement is rejected, the bank will either have to negotiate a costlier agreement.
ACCESSION #
88033464

 

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