Countrywide Financial Corp. to a handful of smaller servicing specialists, according to the pending settlement with securities investors.
At the end of June, BofA agreed to pay $8.5 billion to settle soured residential mortgage-backed securities to investors. The bank struck the agreement with Bank of New York Mellon (BK: 25.23 +0.52%), which was the trustee for 530 MBS trusts with a combined principal balance of $424 billion in Countrywide loans.
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