BofA to pay $3.6 bln to Fannie Mae to settle mortgage claims

Mon Jan 7, 2013 7:43am EST

Jan 7 (Reuters) - Bank of America Corp said it reached a $3.6 billion settlement with Fannie Mae to resolve claims related to the sale and delivery of residential mortgage loans.

The bank said it has also entered into agreements with two parties to sell its around $306 billion residential mortgage servicing rights.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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