Statement From Office Of Attorney General On Court Ruling In Bank Of America Mortgage-Bond Lititgation

NEW YORK, NY – June 7, 2012 – (RealEstateRama) — A New York judge today granted Attorney General Eric T. Schneiderman’s right to intervene in litigation over Bank of America’s proposed $8.5 billion settlement with mortgage-bond investors over opposition by Bank of New York Mellon, the trustee for investors. Schneiderman sought to intervene in the case to protect the interests of investors not involved in structuring the agreement, because it is far less than the massive losses investors have faced and will continue to face.