Explosive allegations in BofA hearing over $8.5B MBS settlement

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Bank of America’s proposed $8.5 billion settlement with investors in Countrywide mortgage-backed securities gets all the attention, most recently in a column Sunday by Gretchen Morgenson of The New York Times, who cited new claims that echo old allegations of banks shortchanging MBS noteholders through modification of underlying investor-owned loans.

 · On Friday, the dispute ended with BofA as judge barbara kapnick out of New York signed off on most of the $8.5 billion settlement. The judge held back on only one issue, keeping a part of the.

BofA Older News Page 8. August 24, 2010;. So there’s no statutory framework to guide Kapnick’s evaluation of the proposed MBS settlement. At Tuesday’s hearing, Within a week after the settlement becomes effective, Bank of America will have to put about $2.4 billion into an escrow.

 · Bank of America and U.S Bank received final approval from a New York judge on their $69 million settlement involving a mortgage-backed securities class action lawsuit. This decision comes one week.

$8.5B Settlement Reached Over Alleged Bank Foreclosure Abuses This is a settlement for the Class Action Filed Against Banks in Foreclosure Proceedings lawsuit. January 7 2013 – by Lucy Campbell

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Bank of America | Justice League | Page 76 – A New York State supreme court judge continued hearing explosive allegations in an Article 77 hearing that will determine whether Bank of America’s (BAC) massive $8.5 billion mortgage-backed securities settlement with investors is approved. Investors have been pushing back at the settlement for well over a year, Seeking Alpha reports.

U.S. Government Mortgage Fraud Lawsuit Against BofA Headed to Trial. At an Aug. 13 hearing, Rakoff signaled that the government could take its case against Bank of America and former Countrywide executive Rebecca Mairone to a jury.. He has also taken a tough line in SEC cases against banks.

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