Bank Of America Doesn’t Want To Pay $1.27B For Countrywide’s “Hustle” Mortgage Scam

Bank Of America Doesn’t Want To Pay $1.27B For Countrywide’s “Hustle” Mortgage Scam

Between settlements, fines, legal fees, and loan reductions, Bank of America’s tab for its part in the mortgage meltdown is well over $50 billion, including last week’s record-setting $16.65 billion deal. And yet BofA is still trying to fight a nearly year-old jury verdict involving a scam by Countrywide Financial that sold off oodles of worthless home loans before the housing bubble collapsed. [More]

(taberandrew)

U.S. Lawsuit Against Bank Of America Given Go-Ahead For Trial

It’s been nearly a year since the U.S. government sued Bank of America over Countrywide’s sale of billions of dollars worth of toxic loans to Fannie Mae and Freddie Mac. Predictably, BofA has attempted to have the case dismissed, but a federal judge has given the green light for the suit to finally head to trial next month. [More]