In Jan. 7, 2013 the Bank of America was announced agreements with the Federal National Mortgage Association (Fannie Mae) to resolve outstanding and potential repurchase and certain other claims relating to the origination, sale and delivery of substantially all residential mortgage loans originated and sold directly to Fannie Mae from January 1, 2000 through December 31, 2008 by entities related to Countrywide Financial Corporation and Bank of America, National Association.

The agreements with Fannie Mae cover loans with an aggregate original principal balance of approximately $1.4 trillion and an aggregate outstanding principal balance of approximately $300 billion.

BofA (BAC) was pay $3.55 billion in cash to Fannie as part of the deal. It was also repurchase 30,000 questionable mortgages that are likely to produce losses, paying Fannie $6.75 billion for the loans.

Bank of America announced that it signed definitive agreements to sell the servicing rights on 2.0 million residential mortgage loans totalling approximately $306 billion, as measured by the aggregate unpaid principal balance

Contact to:

Investors May Contact:
Kevin Stitt, Bank of America, 1.980.386.5667
Lee McEntire, Bank of America, 1.980.388.6780

Reporters May Contact:
Jerry Dubrowski, Bank of America, 1.980.388.2840