Law360, Los Angeles (September 8, 2015, 8:36 PM EDT) -- Bank of America NA has agreed to resolve a suit accusing Midland Loan Services of trying to force it to buy back a pool of securitized mortgage loans even though most were in compliance, according to documents filed Tuesday in Illinois federal court.U.S. District Judge John Robert Blakey dismissed the case on Tuesday after the companies on Friday filed a stipulation of dismissal with prejudice to end the dispute. Terms of a settlement were not discussed in either filing.An attorney for Bank of America declined to comment. The deal ends a case first filed in December 2012 in which... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
Bank of America is to resolve a 2012 lawsuit accusing Wells Fargo, when it was acting as trustee for a pool of mortgage loans, of trying to force Bank of America to buy back the loans, despite most being in compliance; the terms of the settlement were not disclosed.