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B. of A. stops some mortgages to Fannie Mae
SAN FRANCISCO (MarketWatch)
Bank of America Corp. BAC +0.25% will stop selling certain mortgages to Fannie Mae FNMA +13.99% for use in mortgage-backed securities because of disputes with the government-sponsored agency, according to a filing with the Securities and Exchange Commission filed Thursday
B. of A. said commitments allowing the efficient delivery of such loans had expired and that "our ongoing differences with [Fannie Mae] in other contexts, including repurchase claims" influenced the decision to not renew the commitments
Bank of America Corp. BAC +0.25% will stop selling certain mortgages to Fannie Mae FNMA +13.99% for use in mortgage-backed securities because of disputes with the government-sponsored agency, according to a filing with the Securities and Exchange Commission filed Thursday
B. of A. said commitments allowing the efficient delivery of such loans had expired and that "our ongoing differences with [Fannie Mae] in other contexts, including repurchase claims" influenced the decision to not renew the commitments
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