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Single family homes on the market. Updated weekly.Powered by Altos Research
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Investments

BlackRock, PIMCO set to push for BofA mortgage deal

Closing arguments begin today from an investor group including BlackRock Inc. (BLK) and Pacific Investment Management Co. over a proposed $8.5 billion settlement with Bank of America (BAC) involving legacy Countrywide mortgage bonds.

The investor group has been fighting with another investor, American International Group Inc. (AIG) — who says the settlement is unfair given the losses involved.

Per Bloomberg News:

For Charlotte, North Carolina-based Bank of America, the settlement is part of an effort by Chief Executive Officer Brian Moynihan to resolve liabilities tied to faulty mortgages that have cost the company about $50 billion in legal claims, including those the bank inherited with the purchase of home lender Countrywide Financial Corp. in 2008. 

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An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

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