Bank of America In $404M Settlement With Freddie Mac

Mani

Published onDecember 2, 2013

Updated on May 13, 2021

Bank of America Corp (NYSE:BAC) said it reached a $404 million settlement with Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) to resolve claims stemming from residential mortgage loans the bank sold to Freddie.

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The second-biggest U.S. lender announced it settled all claims with Freddie Mac arising from residential mortgages sold to the government-backed housing agency through the end of 2009.

Follow-up to last month’s $863 million deal

Earlier, a federal jury concluded that Bank of America...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

Bank of America In $404M Settlement With Freddie Mac

Follow-up to last month’s $863 million deal

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