1. Bank of America Settles on Mortgage Securities
... first half of this year. Furthermore, it would undoubtedly break ground for other big banks that face similar situations (Schwartz). The Bank of America settlement involves more than 20 investors, including asset managers Pimco, Metropolitan Life and BlackRock, as well as the Federal Reserve Bank of New York ... . They hold a combined $100 billion in home loans from mortgage-backed securities from Bank of America, the nation's biggest bank by assets. The securities affected by the deal come from Countrywide Financial, the subprime mortgage lender whose practices ... have come to symboliz...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate