Wednesday, October 17, 2012

Investors demanding

BofA continued to see mounting claims against it over faulty mortgages, with investors demanding the bank buy them back. There were nearly $5 billion in new claims during the quarter, bringing the total to $25.5 billion, more than twice the year-ago level.

The biggest increase in claims came from mortgages purchased by Fannie Mae FNMA +0.74% and Freddie Mac FMCC +4.67% . The bank is in a continuing legal dispute with the agencies over the validity of the so-called putback requests.

Why is it that investor giants get what they want but the average American cannot?

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