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Sunday, October 22, 2017
underwriting guidelines

Bank of America Spends $8.5 Billion To Settle With Investors

Bank of America pre-emptively avoided a legal battle of massive proportions yesterday when they agreed to pay $8.5 billion to investors who had claimed that there were “material discrepancies from underwriting guidelines” (read: lies about quality) in mortgage bonds they purchased from Countrywide, the mortgage lender that Bank of America bought right before the market […]

June 29, 2011