because it would cast some doubt on their claims that the CRA, Fannie and Freddie were responsible for the Great Recession.
BofA near $8.5 billion settlement on securities
By Joe Rauch and Maria Aspan | Reuters – 33 mins ago
CHARLOTTE, N.C./NEW YORK (Reuters) - Bank of America Corp is close to a deal to pay $8.5 billion to settle claims from a group of powerful investors that lost money on mortgage-backed securities, a person familiar with the matter said on Tuesday.
The deal could embolden investors holding mortgage-backed securities filled with now-toxic home loans to pursue claims against other large mortgage lenders such as Wells Fargo & Co and JPMorgan Chase & Co, analysts said.
In fact, B of A ended up paying Fannie & Freddie:
In January, Bank of America announced $2.8 billion settlements with mortgage financiers Fannie Mae and Freddie Mac covering essentially all of their outstanding mortgage repurchase claims.
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