... several provisions expressly guarding against abusive lawsuits, and gives courts discretion in c... state court on behalf of a client, Countrywide Home Loans, Inc. Carlisle sought foreclosure of a ...
NEWS OF THE WEEK
...Countrywide litigation. Judge Bransten also presides over simi... In a lawsuit filed against Deutsche Bank, the FHLB of Seattle reports similar... Over MBS Could be Prelude to Major Lawsuits Against Banks," American Banker, 13 July 2010. 8...
As many as 13,000 Arizonans may get a break on their mortgage debt with a loan-modification program offering up to $245 million in relief, thanks to a multi-state settlement reached with Countrywide Financial on Oct. 3. The settlement, made by Bank of America, which acquired Countrywide Financial in July, agreed to develop a loan- modification program for up to 397,000 borrowers nationwide for an estimated total value of up to $8 billion. The settlement resolved investigations into Countrywide's lending practices in Arizona, Iowa, Texas and Washington, as well as lawsuits against the financial institution initiated by California, Florida, and Illinois. The lawsuit accused Countrywide of using deceptive practices in its mortgage-lending business, although the settlement does not constitu...
NEW YORK - The lawsuits against Bank of America are piling up. The latest comes from U.S. Bancorp, which wants Bank of America Corp. to repurchase poorly written mortgages sold by Countrywide Financial in 2005.
To: NATIONAL EDITORS Contact: Kathleen Day, +1-202-349-1871, kathleen.day@responsiblelending.org, Sharon Reuss, +1-919-313-8527, sharon.reuss@responsiblelending.org, or Ginna Green, +1-510-379- 5513, ginna.green@responsiblelending.org, all of the Center for Responsible Lending
... with former employees and a review of lawsuits in 10 states indicate that IndyMac. -- pushed thro... IndyMacs own risk experts recommended against approvals. Most of the ex-employees who provided i... state regulators lawsuits against Countrywide Financial, indictments against Bear Stearns execut...
...Countrywide litigation. Judge Bransten also presides over simi.... In a lawsuit filed against Deutsche Bank, the FHLB of Seattle reports similar... Over MBS Could be Prelude to Major Lawsuits Against Banks," American Banker, 13 July 2010. . 8...
An FBI investigation into the subprime mortgage crisis has expanded from 14 to 17 companies suspected of accounting fraud, improperly securing loans and insider trading, and could grow even larger, according to government officials. While the FBI has acknowledged an ongoing investigation into lending practices involving subprime mortgages, which financial experts have said could take years to complete, neither the bureau nor the Justice Department has commented publicly on any specific targets.
... the FBI investigation was looking at Countrywide Financial Corp., the largest U.S. mortgage lender,..., a number of investors have brought lawsuits against Countrywide in California and Delaware, sa...
PHOENIX - Attorneys general in Arizona and Nevada filed civil lawsuits Friday against Bank of America Corp., alleging that the lender is misleading and deceiving homeowners who have tried to modify mortgages in two of the nation's most foreclosure-damaged states. Bank of America violated Arizona's consumer fraud law by misleading consumers who tried to reduce their monthly payments to keep their homes, state Attorney General Terry Goddard said. The bank also violated the terms of a 2009 consent agreement requiring its Countrywide mortgage subsidiary to implement a loan modification program, the Arizona lawsuit alleges.
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