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Mayopoulos Says Buyback Demands Mostly Resolved After BofA Deal

Fannie Mae is about three quarters of the way through its effort to force banks to buy back failed loans originated at the housing bubble’s peak, its Chief Executive Officer Timothy Mayopoulos said today.

The company’s $11.7 billion settlement with Bank of America, announced yesterday, takes care of a significant portion of its outstanding buyback requests, Mayopoulos said at a Bloomberg Government breakfast in Washington.