BofA Mortgage Investors Extend Discussions on Putback Demands
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The investor group including Pacific Investment Management Co. that is weighing whether to sue Bank of America Corp. over about $47 billion in mortgage bonds agreed to extend talks with the lender for the second time.
The bond owners agreed to renew “their extension of any time periods” laid out in an Oct. 18 letter, said Kathy Patrick, a lawyer for the investors, in a statement e-mailed late yesterday. The original extension was set to expire at the end of January, Bank of America Chief Financial Officer Charles Noski told analysts last month in a conference call.