Bank of America’s pending settlement related to hundreds of billions of dollars worth of Countrywide-issued first-lien RMBS released Wednesday would include not only an $8.5 billion cash payment to trusts involved but also about $400 million of servicing changes and improvements, according to an investor law firm involved.

The Houston-based Gibbs & Bruns, which represents 22 institutional investors involved, said among other things Bank of America has agreed to move high-risk loans to “qualified” subservicing firms at the bank’s own expense.

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