Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

A Member of the Law Professor Blogs Network

Thursday, June 30, 2011

BofA Announces $8.5 Billion Settlement of Countrywide RMBS Claims

Bank of America announced it reached agreement to settle nearly all of the claims related to Countrywide-issued first-lien residential mortgage-backed securities, representing 530 trusts with an original principal of $424 billion.  The agreement was entered into with The Bank of New York (Mellon), the trustee for the RMBS trusts covered by the settlement and is supported by a group of institutional investors.  BofA will pay $8.5 billion and will provide an additional $5.5 billion for representations and warranties exposure.

http://lawprofessors.typepad.com/securities/2011/06/bofa-announces-85-billion-settlement-of-countrywide-rmbs-claims.html

News Stories | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef0154335e3bc0970c

Listed below are links to weblogs that reference BofA Announces $8.5 Billion Settlement of Countrywide RMBS Claims:

Comments

Post a comment