Business | Nation

Bank Of America To Pay Fannie Mae $11.6 Billion To Buy Back Troubled Loans

NPR | Jan. 7, 2013 3:19 p.m.

Contributed By:

Yuki Noguchi

Bank of America and Fannie Mae have agreed to settle legal issues stemming from the subprime mortgage crisis. The bank will pay Fannie Mae $3.6 billion in cash and will also spend $6.7 billion to repurchase certain mortgages sold to Fannie Mae.

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