1. Bank of America Settles on Mortgage Securities
... also looking for reimbursement. They say that the original mortgages were underwritten with false information and did not conform to normal standards (Schwartz). Sheila C. Bair, the chairwoman of the Federal Deposit Insurance Corporation, feared that the unresolved mortgage claims were preventing the economy from rehabilitating. "Unresolved legal claims could serve as a drag on the recovery of the housing market," she said. "The healing of the housing market is essential to the recovery of the broader economy ... " (Schwartz). "We'd love never to talk about this again and put it behind u...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate