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Mortgage Fraud Penalty Against Bank of America is $1.3 Billion

Bank of America Ordered to Pay $1.3 Billion for Mortgage Fraud On Wednesday, July 30th, a federal jury ruled that Bank of America would pay $1.27 billion in civil penalties for mortgage fraud and bad home loans sold to Fannie Mae and Freddie Mac, which in part triggered the Great Recession in 2008. In October last year, the jury ruled that Bank … [Read more...]

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