AG Gansler Secures $75 Million for Maryland Government Entities and Pension Systems from Housing Securities Settlement with Bank of America

Baltimore, MD – August 21, 2014 – (RealEstateRama) — Attorney General Douglas F. Gansler announced today that multiple governmental entities and pension programs (Maryland and local governments) will share an estimated $75 million settlement secured by his Securities Division from Bank of America (BOA) and its subsequent acquisitions, Merrill Lynch and Countrywide Financial Corporation. Maryland, joined by five other states and multiple federal agencies, reached a $16.65 billion settlement that resolves allegations against the banking and securities giant for unlawfully packaging, marketing, issuing and selling residential mortgage backed securities (RMBS) that contained toxic mortgages