Pimco, New York Fed Said to Seek BofA Repurchase of Mortgage

Pimco, New York Fed Said to Seek BofA Repurchase of Mortgage

Andrew Harrer/Bloomberg

Pacific Investment Management Co., BlackRock Inc. and the Federal Reserve Bank of New York are seeking to force Bank of America Corp. to repurchase soured mortgages packaged into $47 billion of bonds by its Countrywide Financial Corp. unit, people familiar with the matter said.