1. Bank of America Settles on Mortgage Securities
... come to symbolize the excesses of the housing boom. Bank of America acquired Countrywide in 2008 (Schwartz). The settlement also covers almost all of $424 billion in mortgages that were issued by Countrywide, which were packaged into mortgage bonds at the time. Therefore, a broader group of investors will share in the proceeds, according to the people who were briefed on the proposed settlement. Additionally, Bank of America agreed to ... $25 billion of that could belong to Bank of America, the most of any of the major banks. Prior to this settlement, Bank of America paid out or set asi...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate