BofA Escaping Countrywide to Help Moynihan Rebuild

BofA Escaping Countrywide to Help Moynihan Rebuild

Scott Eells/Bloomberg

In the settlement announced yesterday, Bank of America will make a $3.6 billion cash payment, spend $6.75 billion to buy back residential loans sold to Fannie Mae, and pay $1.3 billion in fees for taking too long to assist or foreclose on overdue borrowers, according to separate statements.