By Karen Weise for Businessweek
The mortgage settlements just keep coming. On Monday morning, Bank of America said it reached an agreement to resolve virtually all existing and future claims that it (and mortgage lender Countrywide, which BofA bought in 2008) misrepresented the quality of home loans it sold to Fannie Mae from 2000 through 2008. In the deal, Bank of America is paying $3.6 billion in cash and is also repurchasing about 30,000 mortgages for $6.75 billion. That money all goes to Fannie Mae, the government-sponsored enterprise that taxpayers bailed out in the financial crisis.
