Statement by Michael J. Williams, President and Chief Executive Officer, on the Bank of America Agreement – Feburary 11, 2011 – Bank Owned Homes / Foreclosures

by braddhesi

 Fannie Mae has reached an agreement with Bank of America, N.A., and its affiliates — BAC Home Loans Servicing, LP, and Countrywide Home Loans, Inc. — to address outstanding repurchase requests for residential mortgage loans with an unpaid principal balance of approximately $3.9 billion delivered to Fannie Mae by affiliates of Countrywide Financial Corporation. Bank [...]

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