BoA in dispute with Fannie Mae

Michael Bow
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BANK of America is in talks with Fannie Mae to resolve a dispute over bad mortgages that the government-controlled entity wants the bank to buy back.

In a filing yesterday, Bank of America said it is in dialogue with Fannie Mae to “address our ongoing differences.”

At issue are billions of dollars of mortgages that Bank of America sold to Fannie Mae from 2004 to 2008, during the US housing boom. As the loans go bad, Fannie wants Bank of America to buy them back.