Bank of America, other banks move closer to ending mortgage mess
CHARLOTTE/WASHINGTON (Reuters) – Bank of America Corp announced more than $14 billion of legal settlements over bad mortgages it sold to investors and flaws in its foreclosure process, taking the bank a step closer to ending the home loan problems that have dogged it for years. About $3 billion of Bank of America’s Monday’s settlements were part of a larger $8. 5 billion deal between 10 big mortgage lenders and regulators to end a loan-by-loan review of foreclosures mandated by the government. . . .
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