Relevant:
- BofA, MBIA reported likely to settle Countrywide mortgage claims
- Bank Of America-Countrywide Merger Cost BofA $40 Billion
- Bank of America set to settle mortgages case for $16bn-$17bn
- JPMorgan agrees to tentative $13 billion settlement with U.S. over bad mortgages
- Haunted by soured mortgages, Bank of America loses $276 million
2013-10-21 — reuters.com
``Countrywide Financial Corp, the mortgage lender acquired by BofA in July 2008, has cost the bank more than $40 billion in litigation expenses and other charges linked to its bad subprime mortgages. The bank set aside an additional $300 million for mortgage litigation in the latest quarter.
JPMorgan reached a tentative $4 billion deal with the FHFA on Friday to settle claims that the bank misled government-sponsored mortgage agencies about the quality of mortgages it sold them, according to a person familiar with the matter.''
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