NEW YORK (Reuters) - Bank of America Corp
American International Group Inc
The letter, which was filed in New York State Supreme Court on Thursday, requested immediate settlement discussions.
"We are willing and available now to discuss ... how to best construct an open, fair and transparent process," Daniel Reilly, a lawyer for AIG, and Derek Loeser, a lawyer for the home loan banks, wrote.
AIG and other objectors complained that the accord offered them only a fraction of what they lost, and was negotiated without them.
Justice Barbara Kapnick, who is hearing testimony to decide whether to approve the settlement, had asked the parties to consider mediation rather than wait for her to rule.
Kapnick made the request on June 14 before a break in the proceeding, which resumes July 8, the letter said.
Bank of America had agreed to the settlement two years ago to resolve the claims of investors in bonds issued by mortgage lender Countrywide Financial Corp, which it bought in 2008.
It hopes a settlement, if approved, will resolve much of its remaining legal obligations stemming from Countrywide.
The Charlotte, North Carolina-based bank paid $2.5 billion for Countrywide, but the purchase became an albatross and has cost the bank tens of billions of dollars for litigation, loan buybacks and other mortgage-related costs.
Twenty-two institutional investors, including BlackRock Inc
The case is In re: Bank of New York Mellon, New York State Supreme Court, New York County, No. 651786/2011.
(Reporting By Karen Freifeld; Additional reporting by Jonathan Stempel; Editing by Kenneth Barry)
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