Report: BofA, Goldman could pay $16 billion over MBS claims

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PHH announced that Bank of America Merrill Lynch intends to "in. Yesterday federal prosecutors announced a $5 billion deal with the Goldman Sachs Group Inc. to resolve claims over Goldman’s.

Bank of America could be under-reserved for mortgage putbacks by $16 to $22 billion, according to legal and accounting experts.. including Goldman Sachs ( GS – Get Report), and PIMCO over.

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Report: BofA, Goldman could pay $16 billion over MBS claims According to MarketWatch, the settlements of lawsuits so far with top lenders are paving the way for an additional $16 billion in penalties to be paid by banks including Bank of America ( BAC ) and Goldman Sachs ( GS ) over mortgage-backed securities sold to Fannie Mae and Freddie Mac .

Bank of America reached a $16.65 billion settlement in 2014 while JP Morgan settled for $13 billion in 2013. Goldman Sachs will report fourth-quarter earnings on Wednesday. Its shares were.

"Bank of America Merrill Lynch" is the marketing name for the global banking and global markets business of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC.

HUD, administration announce Promise Zone competition Senators press for mass mortgage refi plan After months of bemoaning the logjam on business-friendly legislation in Congress. Bank in North Adams, Mass., raised concerns that some elements of the tax plan could hurt local real estate market.Promise Zone Mapping Tool This tool assists applicants to HUD’s Promise Zone initiative prepare data to submit with their 2013 application by allowing applicants to draw the exact location of the area they intend to serve. Qualified Census Tracts and Difficult Development Areas Geographically- targeted areas for development in the LIHTC program.

All times in ET/GMT) WEEK AHEAD Investors. of declines. Bank of America, the second-largest U.S. bank, will likely report on Wednesday a loss for the third quarter after it takes a $5.3 billion.

Jamie Dimon, Chairman, President, and CEO of JPMorgan Chase Bank of America’s proposed $8.5 billion settlement with investors in Countrywide mortgage-backed securities gets all the attention, most recently in a column Sunday by Gretchen Morgenson of The New York Times, who cited new claims that echo old allegations of banks shortchanging MBS noteholders through modification of underlying investor-owned loans.

goldman sachs group Inc. said on Thursday it would pay over $5 billion to settle claims it misled mortgage bond investors during the financial crisis, a move that will cut the firm’s fourth quarter earnings by about $1.5 billion. Goldman Sachs said the settlement comprises a $2.385 billion civil penalty, a $875 million cash payment and $1.8 billion in relief for homeowners whose mortgages.

NEW YORK — Bank of America (BAC – Get Report) won approval of most of a highly controversial .5 billion mortgage backed securities (MBS) settlement that had been viewed as the major legal.

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