Fri, 24 Feb 2012 07:25:13 GMT
Bank of America halts new loans to Fannie Mae
Bank of America, the second largest US lender, has decided to stop selling loans to State owned Fannie Mae as both parties cannot agree who should take responsibility and bear costs of deficient mortgages. BoA is halting loans for Fannie Mae starting from February. From BoA point of view it is too risky to engage in business with Fannie Mae, said David