Bank Of America Finally Ordered To Pay $1.27B For Countrywide’s “Hustle”

Bank Of America Finally Ordered To Pay $1.27B For Countrywide’s “Hustle”

It’s been about nine months since a federal jury found Bank of America liable for the “Hustle,” a pre-bubble Countrywide Financial program that removed safeguards to the mortgage underwriting process, resulting in a mountain of toxic, worthless loans. Yesterday, the judge in the case finally decided how much BofA — and the former Countrywide exec in charge of the program — should pay. [More]