Bank of America Agrees to Pay Freddie Mac $404 Million
Bank of America (BofA) has agreed to pay Freddie Mac $404 million to settle all remaining claims over home loans sold over the last decade.
Bank of America says that this final settlement resolves all claims on loans sold from 2000 through 2009, which includes mortgage-backed investments that soured during the housing crash.
Earlier this year, Bank of America agreed to pay $3.6 billion in cash to Fannie Mae, Freddie Mac's sister company, and buy back $6.75 billion in home loans sold by BofA and Countrywide Financial, a company that Bank of America bought in 2008.
Both Fannie Mae and Freddie Mac buy mortgages from banks and package them as bonds to sell. The government rescued both companies during the financial crisis in 2008 with loans totaling roughly $187 billion.
To date, about $136 billion of that aid has been repaid.
Can you Use Money That Is Mistakenly Deposited Into Your Account?
Have you ever noticed that your bank account somehow had 'extra' money in it even though you knew for a fact it wasn't yours? If so, you are not alone. It happens more often than you would think. All it takes is for a bank teller to type in one wrong number at the time a deposit is being made.
Is the 10 and 2 Driving Position Now Dangerous in Newer Cars? If Your Car Has Airbags, You May Want To Change This Habit.
Advances in airbag technology have made 10 and two quite dangerous, according to the American Driver and Traffic Safety Association. The old position puts the driver's fingers, hands and arms in the way of the airbag, which deploys at speeds of nearly 250 mph.
It's Possible To Remove Minor Car Scratches With Whitening Toothpaste
Have you ever considered using toothpaste on your car to take out a few of those minor scratches? If the scratch hasn't yet penetrated the clearcoat, there is a good chance that you can fix the problem with a little bit of elbow grease and whitening toothpaste.
The Better Business Bureau Can't Really Do What You Think It Can Do
Tell all of your friends and family that you have some type of consumer complaint. We bet that at least half of them will tell you to contact the Better Business Bureau (BBB) for some kind of resolution. But can the BBB really help consumers? It really isn't what you think it is.