Deals
BofA Agrees to Pay Fannie Mae $3.6 Billion in Mortgage Deal
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Bank of America Corp., the second-biggest U.S. lender by assets, agreed to pay Fannie Mae $3.6 billion to resolve home-loan repurchase claims.
The lender will also pay $6.75 billion to repurchase residential mortgages sold to Fannie Mae, Charlotte, North Carolina-based Bank of America said today in a statement. The deal will “substantially resolve outstanding claims for compensatory fees” between the two companies, according to the statement.