Replies to post #135139 on Fannie Mae-No Politics (FNMA)

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LONDON (MarketWatch) -- Regulators at the Federal Housing Finance Agency are looking to hit Bank of America Corp. /quotes/zigman/190927/quotes/nls/bac BAC -0.55% with a fine of more than $6 billion for its role in misleading mortgage authorities, the Financial Times reported on Sunday. FHFA, which has responsibility for Fannie Mae and Freddie Mac, on Friday agreed a $4 billion settlement with J.P. Morgan Chase & Co. /quotes/zigman/272085/quotes/nls/jpm JPM +0.98% over claims the bank misled authorities about the quality of loans sold to the government-backed mortgage companies. J.P. Morgan has also reached a $13 billion deal with the Justice Department to settle a probe into its mortgage-backed securities business, according to reports Sunday.

http://www.marketwatch.com/story/bank-of-america-pursued-for-6-billion-fhfa-fine-2013-10-21