Bank of America faced with $5 Billion First Quarter Buy-back Demands

Discussion in 'General Real Estate and Real Estate Finance' started by Mike Kennedy, Apr 23, 2012.

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  1. Mike Kennedy

    Mike Kennedy Elite Member

    24
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
  2. gregb

    gregb Senior Member

    5
    Sep 3, 2011
    Professional Status:
    Certified General Appraiser
    State:
    California
  3. Restrain

    Restrain Elite Member

    0
    Jan 22, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    Countrywide was Fannie's biggest client and biggest problem. Prior to going into government oversight, there were no repurchases of Countrywide loans, per policy. Now all those chickens that BofA did not know about before it's purchase of Countrywide are coming home to roost.
     
  4. Terrel L. Shields

    Terrel L. Shields Elite Member

    59
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Comments from BOA at the time they bought CW





     
  5. Restrain

    Restrain Elite Member

    0
    Jan 22, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    They didn't bother to ask people who actually knew what was going on inside Countrywide but were outside of Countrywide.
     
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