Bank of America will buy back $330 million of home mortgages from Freddie Mac because the bank did not get full appraisals on some properties, raising concerns that some newly-originated loans are not meeting underwriting guidelines.

Dan Frahm, a B of A spokesman, told American Banker Wednesday that the buybacks were a "one time occurrence."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.