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Bank of America to pay $11.6 billion in Fannie Mae settlement

By Agence France-Presse
Monday, January 7, 2013 9:33 EDT
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The Bank of America logo displayed on the side of a branch office in San Francisco, California, on January 20, 2010. (AFP)
 
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Bank of America said Monday it would pay $11.6 billion to settle agency mortgage repurchase claims on soured loans sold to mortgage finance giant Fannie Mae.

The settlement covers residential mortgage loans originated and sold directly to Fannie Mae from January 1, 2000, through December 31, 2008, the big US bank said in a statement.

Agence France-Presse
Agence France-Presse
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