Bank of America Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Representations and Warranties Obligations and Corporate Guarantees (Tables)

Representations and Warranties Obligations and Corporate Guarantees (Tables)

3 Months Ended

Mar. 31, 2013

Outstanding Claims By Category And Product

The table below presents unresolved repurchase claims at March 31, 2013 and December 31, 2012. The unresolved repurchase claims include only claims where the Corporation believes that the counterparty has a basis to submit claims. For additional information, see Whole Loan Sales and Private-label Securitizations Experience in this Note and Note 11 – Commitments and Contingencies herein. These repurchase claims do not include any repurchase claims related to the BNY Mellon Settlement regarding the Covered Trusts.



Unresolved Repurchase Claims by Counterparty and Product Type ^{(1, 2)}
(Dollars in millions)	March 31 2013		December 31 2012
By counterparty
GSEs	$	1,138	$	13,530
Monolines ⁽³⁾	2,488		2,449
Whole-loan investors, private-label securitization trustees, third-party securitization sponsors and other	13,509		12,299
Total unresolved repurchase claims by counterparty	$	17,135	$	28,278
By product type
Prime loans	$	1,359	$	8,793
Alt-A	1,034		5,428
Home equity	2,467		2,394
Pay option	5,594		5,884
Subprime	4,533		3,687
Other	2,148		2,092
Total unresolved repurchase claims by product type	$	17,135	$	28,278


⁽¹⁾	Excludes certain MI rescission notices. However, at March 31, 2013 and December 31, 2012, included $427 million and $2.3 billion of repurchase requests received from the GSEs that have resulted solely from MI rescission notices. For additional information, see Mortgage Insurance Rescission Notices in this Note.


⁽²⁾	At both March 31, 2013 and December 31, 2012, unresolved repurchase claims did not include repurchase demands of $1.6 billion where the Corporation believes the claimants have not satisfied the contractual thresholds as noted on page 189.

Loan Repurchases And Indemnification Payments

nts

The table below presents first-lien and home equity loan repurchases and indemnification payments for the three months ended March 31, 2013 and 2012. During the three months ended March 31, 2013 and 2012, the Corporation paid $508 million and $423 million to resolve $564 million and $532 million of repurchase claims through repurchase or reimbursement to the investor or securitization trust for losses they incurred, resulting in a loss on the related loans at the time of repurchase or reimbursement of $127 million and $264 million. The amounts shown in the table below exclude $62 million and $75 million in payments to settle monoline claims for the three months ended March 31, 2013 and 2012. Additionally, the amounts in the table below exclude a cash payment of $3.6 billion made in January 2013 to FNMA and the repurchase for $6.6 billion of certain residential mortgage loans which the Corporation valued at less than the purchase price, both of which were part of the FNMA Settlement.

For additional information, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees

Rollforward Of Liability For Representations And Warranties

to the Consolidated Financial Statements of the Corporation's 2012 Annual Report on Form 10-K.

The table below presents a rollforward of the liability for representations and warranties and corporate guarantees