Daily Archives: August 16, 2013

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BofA may settle with FHFA

BofA may settle with FHFA

Morgan Stanley analysts Betsy Grasek and Michael Cyprus speculate that Bank of America (BAC) may settle with theFederal Housing Finance Agency for anywhere between $2 billion to $3.6 billion according to a note in Seeking Alpha.

 

The FHFA is suing several banks for loans sold to Fannie Mae and Freddie Mac.

UBS Americas decided to settle recently with the FHFA for $885 million.

More news of settlements is expected over the next few months as the FHFA goes down the list.

Source: Seeking Alpha