BofA Halts Some Mortgage Loan Sales To Fannie Mae

Law360, New York (February 24, 2012, 5:20 PM EST) -- Bank of America Corp. has stopped selling to Fannie Mae certain residential mortgage loans, letting parts of its contract with the government-controlled enterprise expire because of “ongoing differences” regarding repurchase claims, according to regulatory documents filed Thursday.

The bank will continue to sell loans made under government-sponsored initiatives such as the Making Home Affordable Program, but has decided not to renew certain aspects of its agreement with Fannie Mae facilitating the sale of purchase money and non-MHA loans into the agency's pools of mortgage-backed securities....
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