Bank of America, in a new public filing, said it had $11.2 billion of "unresolved" mortgage buyback requests at June, a 50% spike since the beginning of the year.
The nation's second largest residential funder noted that buyback disputes are growing with secondary market investors — namely Fannie Mae and Freddie Mac, though it also is having trouble with claims made to mortgage insurance firms.
"Overall, disputes have increased with buyers and insurers regarding representations and warranties," BofA said in a 10-Q filing with the Securities and Exchange Commission.
Fannie and Freddie account for $5.6 billion of the unresolved requests, monoline insurers, $4 billion.
BofA noted that it has experienced a "very limited number" of repurchase requests related to private-label MBS.
In the second quarter, the bank repurchased $4.3 billion of first mortgages from securitization trusts as a result of delinquencies — or to perform modifications. In 2Q09 it repurchased $201 million.