Apple Negotiates With NTT DoCoMo and 4 Hot Stocks to Follow
Bank of America (NYSE:BAC): Current Price: $11.62
Watchdog group Public Citizen and a U.S. senator have requested an investigation into Bank of America’s settlement with mortgage giant Fannie Mae in a dispute that involves $1.4 trillion worth in loans. On Monday, the bank and Fannie Mae announced that they reached an accord having Bank of America pay $3.6 billion in cash and buy back $6.75 billion in loans from Fannie Mae. The two were battling over a large pool of loans that were sold to Fannie by Countrywide Financial Corp. between 2000 and 2008. The subprime lender was purchased by Bank of America in 2008.