Bank of America Settles RMBS Claims with Freddie Mac

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On December 2, Bank of America announced that it settled claims brought by Freddie Mac for $404 million. The settlement resolves all remaining representations and warranties claims against Bank of America brought by Freddie Mac related to residential mortgage loans sold to the government-controlled company between 2000 and 2009. The settlement does not cover loan servicing obligations, loans in private label securitizations, or securities and disclosure claims. Press Release.

Topics:  Bank of America, Freddie Mac, RMBS, Settlement

Published In: Business Torts Updates, Finance & Banking Updates, Residential Real Estate Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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