Research (Česká spořitelna)
World markets  |  January 08, 2013 09:23:54

BoA agreed with Fannie Mae to settle disputes on the sale of bad mortgages in 10 mld.USD


Bank of America has agreed with the state-owned mortgage agencies Fannie Mae to settle disputes relating to the sale of bad mortgages. Bank under this Agreement to pay USD 3.6 billion in cash and then buy back the mortgage in the amount of USD 6.75 billion, the Bank awarded a lower price than you sold it to the Agency. The major part of these costs in the past the Bank has created provisions and other costs that will be reflected in the results for 4Q should reach approximately $ 2.5 billion. End of the uncertainty about the cost of litigation for the bank is positive. The Bank also announced that despite these costs in Q4 was slightly profitable.

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BoA se dohodla s Fannie Mae na urovnání sporů o prodeji špatných hypoték za 10 mld.USD

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