Bank of America Fights Back Against Putback Demands

By Kyle Chezum Updated on 11/5/2010

11/05/2010

Bank of America CEO Brian Moynihan fought back against mortgage putback demands in a recent conference call with investors.  Bank of America is taking a stance in defiance of claims made by investors that the bank owes them for more than $47 billion in mortgage backed securities purchased.

This comes at a time when Bank of America has slowed and even halted foreclosures in some states.  Investors and government entities like Fannie and Freddie have put pressure on the bank to evict defaulted tenants and auction homes in order to recoup income.

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