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8/30/11--BofA Settlement in Question; NMLS's Interesting Originator Stats; Impact of GNMA's Mod Rule |
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Tuesday, 30 August 2011 08:23 |
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Remember that proposed $8.5 billion Bank of America settlement with investors back in June? "Not so fast," said the FDIC. The settlement still requires a judge's approval, and the FDIC filed an objection in federal court in Manhattan as an investor rather than as a regulator of the Bank of America. It said it owns securities that would be covered by the settlement because it took over banks that failed during the financial crisis. "The reason for the FDIC's objection is that it does not have enough information to evaluate the Settlement," it said in the notice. Link to article
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