Bank Of America

BofA To Pay $9.3B To Settle With Fannie Mae, Freddie Mac Regulator

BofA reached a $9.3 billion settlement for claims that it sold Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) faulty mortgage bonds.

The Federal Housing Finance Agency, which regulates the GSEs, announced Wednesday afternoon that the settlement is an "important step in helping restore stability to our broader mortgage market and moving to bring back the role of private firms in providing mortgage credit."
BofA approval . . .

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