BofA and DOJ mortgage settlement deadlocked

Bank of America has reached a $17 billion agreement with federal and state regulators to settle investigations over faulty mortgage-backed securities sold before the 2008 financial crisis.

BofA and DOJ mortgage settlement deadlocked Brena Swanson is formerly the Digital Reporter for HousingWire. Brena joined the HousingWire news team in February 2013, also serving in the roles of.

BOSTON, July 5, 2016 /PRNewswire/ — Eric D. Green, independent Monitor of Bank of America’s August 20, 2014, mortgage settlement with the U.S. Department of Justice and six states, today announced.

To mitigate losses suffered by homeowners victimized by deceptive practices during the mortgage and foreclosure crisis, the Attorney General obtained broad-ranging settlements from three major banks in 2013 and 2014. The settlements were with Bank of America, Citibank and JPMorgan Chase & Co. and related to their packaging, marketing, sale, and issuance of residential mortgage backed securities.

The unprecedented joint agreement is the largest federal-state civil settlement ever obtained and is the result of extensive investigations by federal agencies, including the Department of Justice, HUD and the HUD Office of the Inspector General (HUD-OIG), and state attorneys general and state banking regulators across the country.

A Bank of America spokesman declined to comment. In Bank of America’s negotiations with the Justice Department over the broad mortgage settlement, the bank said it should have to pay less than what.

BOSTON, Nov. 2, 2015 /PRNewswire/ — Just over a year into the four-year term of its historic mortgage settlement with the U.S. Department of Justice and six states, Bank of America has fulfilled.

BOSTON, July 5, 2016 /PRNewswire/ — Eric D. Green, independent Monitor of Bank of America’s August 20, 2014, mortgage settlement with the U.S. Department of Justice and six states, today announced.

Bank of America and the Justice Department have reached an impasse in negotiations over a multibillion-dollar settlement deal, raising the stakes in an investigation into the bank’s role at the center of the mortgage crisis.. The talks stalled on Monday after the bank’s latest offer – more than $12 billion to resolve state and federal investigations into its sale of mortgage investments.

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If you have a complaint against Bank of America related to the RMBS settlement, you may contact the settlement monitor by sending an email to info@mortgagesettlementmonitor.com or by sending mail to: Monitor of the Bank of America Mortgage Settlement; P.O. Box 10134; Dublin, OH 43017-3134

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