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Empresas y finanzas

Bank of America, Syncora settle mortgage fraud lawsuit: sources


    NEW YORK (Reuters) - Bank of America Corp has agreed to settle a lawsuit brought by Syncora Guarantee alleging that Countrywide Financial fraudulently misrepresented mortgage-backed securities insured by Syncora, sources close to the settlement said.

    The terms of the settlement were not immediately available.

    Syncora Guarantee, a unit of Syncora Holdings Ltd , had accused of fraudulently inducing it to insure mortgage-backed securities that later failed.

    Bank of America owns Countrywide.

    (Reporting by Karen Freifeld; Editing by Eddie Evans, Gary Hill)