BofA seeks separate mortgage settlement

TRD New York /
Aug.August 03, 2011 08:46 AM

Bank of America is said to be pursuing a home mortgage foreclosure deal separate from an overall deal which includes mortgage servicers such as JPMorgan Chase and Citigroup, sources told Bloomberg News.

Bank of America has apparently been holding settlement negotiations with some states over home foreclosures separately from talks with a larger group of state and federal officials.

In its separate negotiations, Bank of America is offering to increase its funding of principle writedowns, a higher offer than what is being discussed in larger settlement talks, but is also seeking a blanket liability release that would be broader than what would be available for the other banks.

Attorneys general were unaware of the separate talks with Bank of America, Bloomberg News said.

A Bank of America spokesperson didn’t immediately return a call seeking comment.

As previously reported, America’s largest mortgage providers are nearing a deal with the Department of Justice and 50 state attorneys general to work out some “thorny” foreclosure issues, including robo-singing. [Bloomberg]


Related Articles

arrow_forward_ios
Tillary Hotel at 85 Flatbush Avenue (Image via Kutnicki Bernstein Architects)

Isaac Hager’s Downtown Brooklyn hotel heads to foreclosure

Isaac Hager’s Downtown Brooklyn hotel heads to foreclosure
A million homeowners haven’t requested forbearance on their mortgages — and are now at risk for foreclosure and eviction. (iStock)

1M struggling homeowners didn’t request forbearance. Now what?

1M struggling homeowners didn’t request forbearance. Now what?
Deutsche Bank CEO Christian Sewing and Deutsche Bank's Manhattan headquarters at 60 Wall Street (Getty)

Deutsche Bank: Employees can stay home until mid-2021

Deutsche Bank: Employees can stay home until mid-2021
Jamie Dimon and 383 Madison Avenue (Getty, Google Maps)

JPMorgan suffers setback in return to office

JPMorgan suffers setback in return to office
U.S. foreclosure filings in August jumped 11% as some states ended relief measures, though continued government intervention has prevented sharper increase (iStock)

US foreclosure filings jump as some states end relief measures

US foreclosure filings jump as some states end relief measures
FHFA director Mark Calabria (Getty; iStock)

Fannie and Freddie extend eviction, foreclosure moratorium

Fannie and Freddie extend eviction, foreclosure moratorium
Matthew Kramer, Victor Petrescu, Sebastian Jaramillo and Gov. Ron DeSantis (Getty, iStock) 

Eviction, foreclosure freeze in Florida delaying inevitable flood of cases

Eviction, foreclosure freeze in Florida delaying inevitable flood of cases
Acting US Attorney for Eastern District of New York Seth DuCharme and Bank of America CEO Brian Moynihan (Getty, Twitter, iStock)

Bank of America will pay $300K to settle DOJ mortgage lending discrimination claim

Bank of America will pay $300K to settle DOJ mortgage lending discrimination claim
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...