Bank of America CEO Brian Moynihan said the ongoing settlement talks between the federal government, state attorneys general, and the nation's largest servicers has produced a "package of programs that we believe will be very positive" for the housing market.
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"The intent of those programs is to help drive the recovery in housing," he said during an earnings conference call Thursday morning.
As reported by National Mortgage News on Wednesday, a settlement agreement between the parties is nearing.
However, no dollar amount has been attached to the settlement which could be announced some time in February.
