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>> BANK OF AMERICA Latest News

FEB 05, 2013 - Washington Business Journal

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Bank of America settlement inadequate, lenders say

Bank of America Corp.'s $8.5 billion Countrywide settlement may not be enough to make investors whole, The New York Times reports, citing documents filed by four banks that say BofA continued harmful mortgage practices after its acquisition of Countrywide. Federal Home Loan Banks in Boston, Chicago and Indianapolis, as well as a fourth lender, Triaxx, contend there were instances in which BofA reduced the principal in first mortgages but left intact second mortgages it held on the same properties.…

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