Bank of America to Pay Fannie Mae $3.6 Billion

The deal covers loans originated and sold directly to Fannie Mae from Jan. 1, 2000 through Dec. 31, 2008 by Countrywide Financial Corp., which the bank acquired in 2008, and Bank of America, National Association, another Bank of America unit. It covers mortgage loans amounting to $1.4 trillion in original unpaid principal balance and substantially resolves outstanding claims for compensatory fees.