Bank of America to Pay Fannie Mae $3.6B to Resolve Repurchase Issues

2013-01-09 — mortgagenewsdaily.com

``Fannie Mae said in a statement this morning that the loans to be repurchased had the potential to cause it significant future losses. The bank will pay par plus accrued interest for a total of approximately $6.75 billion over and above the cash payment. Fannie Mae said this resolution will result in a substantial decrease in its outstanding repurchase requests in the first quarter of 2013.''

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