JANUARY 12, 2011
Bank of America (BofA) is repaying Fannie Mae and Freddie Mac for the bad mortgages sold to them through BofA’s Countrywide Financial mortgage unit. This agreement does not help other insurers and private investors who also bought loans through Countrywide/BofA. BofA has the highest number of repurchase requests of any bank, which could hamper its recovery.
SOURCE: Wall Street Journal