Fannie Says It Made The Call To Stop Buying BofA Loans

Law360, New York (February 29, 2012, 6:12 PM EST) -- Fannie Mae on Wednesday said it stopped buying certain residential mortgage loans from Bank of America Corp. because of “ongoing differences” over repurchase claims, contradicting the bank’s assertion that the decision was mutual.

In its annual report filed with the U.S. Securities and Exchange Commission, Fannie also announced that it would seek an additional $4.6 billion in federal aid to cover its losses for the fourth quarter of 2011. Fannie and Freddie Mac have received approximately $180 billion in combined bailout funds from the government since...
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