$8.5B BofA MBS Deal Was Appropriate, Expert Says

Law360, New York (July 22, 2013, 6:03 PM EDT) -- The $8.5 billion that Bank of America Corp. paid in a mortgage-backed securities settlement with investors was reasonable and fell within the $8.2 billion to $12.9 billion range of likely loan repurchases, a structured finance expert testified during a Manhattan trial Monday.

Phillip R. Burnaman II of GreensLedge Group LLC, an expert witness called by the securities' trustee, Bank of New York Mellon Corp., said that his after-the-fact analysis of the data available to the parties when the $8.5 billion settlement was finalized in June 2011...
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