FHFA, AGs Drop Objections To $8.5B BofA MBS Settlement

Law360, New York (May 03, 2013, 5:43 PM ET) -- The Federal Housing Finance Agency and the attorneys general of New York and Delaware dropped their opposition Friday to a proposed $8.5 billion Bank of America Corp. mortgage-backed securities settlement, the same day that objecting investors said a jury, not a New York state judge, should decide if the deal is fair.

The FHFA, which oversees the housing giants Fannie Mae and Freddie Mac, said in a brief statement that it was withdrawing its opposition, joining several pension funds and others who bowed out earlier this...
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