BofA Agrees to Pay $9.3 Billion to Settle Mortgage Lawsuit

Bank of America Corp. agreed to pay about $9.3 billion to settle government claims tied to faulty mortgages.

The agreement covers residential mortgage-backed securities bought by Fannie Mae and Freddie Mac between 2005 and 2007, the Federal Housing Finance Agency said today in a statement.

To contact the reporter on this story: Hugh Son in New York at hson1@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net

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