BofA, MBIA reported likely to settle Countrywide mortgage claims

MBIA alleges Countrywide committed fraud by securitizing loans that were riskier than promised. The insurer reportedly says it has paid out more than $3 billion to investors in the securities, to whom it had written policies guaranteeing payments. Bank of America has sought to put financial pressure on resource-constrained MBIA as the case drags on, Reuters reports -- an effort that was weakened by MBIA's moves this week.''