Mortgage Investors May Be Owed Three Times More in BofA Deal

(Bloomberg)- Investors in Countrywide Financial Corp. mortgage bonds may be owed three times or more of what they’re being offered in an $8.5 billion settlement with Bank of America Corp. (BAC), a group of Federal Home Loan Banks said.

The home loan banks, which invested more than $8.8 billion in the mortgage-backed securities, are trying to get access to more information about the deal by joining the case and said a reasonable settlement could range from $22 billion to $27.5 billion or more. Read more here…