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BofA $8 Billion Mortgage Deal Before Judge After 2 Years

Bank of America Corp.’s $8.5 billion settlement with mortgage-bond investors is being considered by a New York judge two years after the lender struck the deal to resolve claims over home loans bundled into securities.

Opening statements began today before Justice Barbara Kapnick in State Supreme Court in Manhattan. The settlement is part of an effort by Chief Executive Officer Brian Moynihan to clear up liabilities tied to the purchase of home lender Countrywide Financial in 2008.