I've highlighted the list of problems that have occured costs.
An October 2008 agreement to reduce borrowers' payments by as much as $8.6 billion on Countrywide mortgages that state officials said were abusive.
• A March 2010 settlement in Massachusetts requiring the bank to erase as much as $3 billion in principal for severely delinquent Countrywide borrowers who owed more than their homes were worth.
• An agreement last month to pay Fannie Mae and Freddie Mac $2.8 billion to settle demands for buybacks of flawed home loans. The amount was in addition to about $3.5 billion in such payments already made to the government-controlled mortgage firms.
• Payments that could total in the billions to satisfy investors' demands that BofA buy back Countrywide loans backing non-Fannie and -Freddie mortgage securities.
• A possible multibillion-dollar settlement of state and federal probes into big banks' alleged mishandling of troubled borrowers and home foreclosures.
• A March 2010 settlement in Massachusetts requiring the bank to erase as much as $3 billion in principal for severely delinquent Countrywide borrowers who owed more than their homes were worth.
• An agreement last month to pay Fannie Mae and Freddie Mac $2.8 billion to settle demands for buybacks of flawed home loans. The amount was in addition to about $3.5 billion in such payments already made to the government-controlled mortgage firms.
• Payments that could total in the billions to satisfy investors' demands that BofA buy back Countrywide loans backing non-Fannie and -Freddie mortgage securities.
• A possible multibillion-dollar settlement of state and federal probes into big banks' alleged mishandling of troubled borrowers and home foreclosures.
No comments:
Post a Comment