The Source for Whistleblowers, Journalists, Legislators & Academics

Bank of America Announces Agreement on Legacy Countrywide Mortgage Repurchase and Servicing Claims – 06/29/11

Bank of America Corporation announced last week, in a landmark settlement, that it has reached an agreement to resolve almost all of the Countrywide-issued first-lien Residential Mortgage-Backed Securitization (RMBS) repurchase exposure.  The settlement with The Bank of New York Mellon (BNY Mellon) covers 530 RMBS trusts with an original principal balance of $424 billion.  The settlement is just the beginning when considering how many banks were involved with RMBS transactions.

Read more:

Related posts

Democracy Misconceived

By William Nettles and Reuben Guttman There is a misconception among many that democracy...

The Art of Advocacy

Judges are now insisting that plaintiffs make their case with facts instead of merely...

Rapamune In the News

The Justice Department on Tuesday joined a whistleblower lawsuit against Pfizer and its subsidiary...

Comments are currently closed.