BoA Turns Down $47 Bln Buyback Request

08 Nov 2010

Bank of America has turned down a request to repurchase $47 billion in troubled loans that Countrywide Financial originated.

Bank of America has turned down a request to repurchase $47 billion in troubled loans that Countrywide Financial originated. Bank of America, which bought Countrywide in 2008, has denied that the loans were made or handled improperly. Its refusal to buy back the loans is expected to result ...

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