January 07, 2013 at 13:27 PM EST
$19 Bil Of Settlements Resolve Mortgage Loan Claims
Settlements totaling about $19 billion will resolve claims related to mortgage foreclosures by 10 of the largest U.S. banks and mortgage loan servicers, including Bank of America (BAC). The pacts are expected to remove a cloud of doubt and allow the lenders to move forward in sync with the emerging housing market recovery. Under terms of an agreement with BofA, the nation's No. 2 bank by deposits will make a cash payment to the Federal National
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