Bank Of America To Pay Fannie Mae $11.6 Billion To Buy Back Troubled Loans
by Yuki Noguchi
January 7, 2013 - 9:00am
Bank of America and Fannie Mae have agreed to settle legal issues stemming from the subprime mortgage crisis. The bank will pay Fannie Mae $3.6 billion in cash and will also spend $6.7 billion to repurchase certain mortgages sold to Fannie Mae.