Deutsche Bank AG and France’s BNP Paribas SA separately sued Bank of America Corp on Wednesday, claiming that the largest U.S. bank breached its obligations on a total of more than $1.7 billion of mortgage-related transactions.
Both lawsuits, filed in in Manhattan federal court, relate to Ocala Funding LLC, a funding vehicle used by mortgage originator Taylor, Bean & Whitaker Mortgage Corp. TBW was once the 12th-largest mortgage originator in the United States but went bankrupt in August. Read more about Bank of America…
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