Arab Today, arab today bofa to pay 93bn over mortgage bonds sold to fannie freddie
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BofA to pay $9.3bn over mortgage bonds sold to Fannie, Freddie

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Arab Today, arab today BofA to pay $9.3bn over mortgage bonds sold to Fannie, Freddie

New York - AFP

Bank of America will pay $9.3 billion to settle US charges that it sold bad mortgage-backed securities to mortgage giants Freddie Mac and Fannie Mae ahead of the housing bust. The settlement, arranged with the Federal Housing Finance Agency, which oversees Fannie and Freddie, covers securities sold by BofA as well as by Countrywide and Merrill Lynch, which were acquired by the bank.

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