BofA (BAC) Enters Settlement w/ Fannie Mae on Residential Loans; Sees Q4 Impact
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Goldman Sachs Lifts Numbers on Bank of America (BAC) Following Fannie Mae Settlement
January 7, 2013 3:32 PM ESTGoldman Sachs raised estimates and its price target on Bank of America (NYSE: BAC) from $12 to $12.50 following today's settlement with Fannie Mae and sale of servicing rights for 2 million loans. The firm maintained a Neutral rating.
Goldman sees the announcements as a positive for EPS as: "(1) the... More
Fitch Positive on BofA (BAC) Mortgage Settlement with Fannie Mae (FMNA)
January 7, 2013 2:00 PM ESTFitch Ratings believes Bank of America's (NYSE: BAC) recently announced settlement with Fannie Mae (OTCBB: FNMA) is overall positive for the company. The settlement amount is below Fitch's expectations under various stress scenarios. Fitch believes this settlement substantially addresses BAC's exposure to mortgage repurchase obligations from FNM and addresses much of the uncertainty related to this exposure.
Fitch believes BAC's total consideration to FNM... More
