CHARLOTTE, N.C. (AP) — Bank of America has reached a settlement with Fannie Mae on residential mortgage loans sold by the bank and its Countrywide unit to the agency ahead of the nation’s 2008 financial crisis.
Its stock gained more than 2 percent in pre-market trading.
Bank of America Corp. also said Monday that it is selling mortgage servicing rights on about 2 million loans.
The bank will take some charges but expects “modestly positive” fourth-quarter earnings.
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