Bank of America settles with Fannie Mae

Written by Ashwin Rattan Monday, 07 January 2013 19:23
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Bank of America has agreed to pay US government mortgage agency Fannie Mae $3.6bn (£2.2bn) to settle claims relating to residential home loans.


In addition, it has agreed to buy back 30,000 mortgages for $6.75bn, and pay a further $1.3bn in compensation.


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