All material subject to strictly enforced copyright laws. © 2022 Euromoney Institutional Investor PLC group

BofA shares jump on $3bn Fannie and Freddie payment

Freddie Mac and Fannie Mae’s demands for Bank of America to repurchase mortgages were resolved on Monday, after the bank paid $2.8bn to the government-sponsored enterprises. Equity investors and rating agencies have seen the payments as positive, partly because Bank of America had allocated $4.4bn for costs related to putbacks in its third quarter results.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Take a Free Trial or Login
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree