Report: BofA, Goldman could pay $16 billion over MBS claims

In August, BofA agreed to a $16.65 billion settlement over toxic mortgages, collateralized debt obligations and an origination release on residential mortgage loans sold to Fannie Mae and Freddie Mac in the run-up to the financial crisis.

Perhaps this will eventually surface down the road just as previous claims I made of the Federal Reserve and Treasury Department forcing Bank of America to buy. withdraws of only $16.7 billion (out.

Judge Rakoff, of Federal District Court in Manhattan, ordered the bank to pay nearly $1.3 billion for selling 17,600 loans, many of which were defective. Bank of America had previously lost that case, which involved its countrywide financial unit, at a jury trial.

Goldman is one of the last banks to reach a settlement with the government over the financial crisis. Bank of America agreed to pay $16 billion in a settlement with the government in August 2014.

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If the way settlements are headed continues, an additional $16 billion in penalties will be paid by banks, including Bank of America and Goldman Sachs over mortgage-backed securities sold to.

Bank of America. MBS investors would be entitled to demand the repurchase of fully $16 billion in underlying ResCap loans. Only if ResCap succeeded in all of its defense arguments, such as time.

Bank of America could be under-reserved for mortgage putbacks by $16 to $22 billion, according to legal and accounting experts.. including Goldman Sachs ( GS – Get Report), and PIMCO over.

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Bank of America’s proposed .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.

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The U.S. Department of Justice’s proposal that deutsche bank pay $14 billion to settle claims of mis-selling mortgage securities is an extravagant negotiating tactic.. and Bank of America ($16.