Bank of America Corp.’s Countrywide unit placed profits over quality in a “massive fraud” selling shoddy mortgages to Fannie Mae and Freddie Mac, a U.S. government lawyer said on Tuesday. The claim came at the start of the first case …
Bank of America Corp. employees could face civil fraud charges as part of a federal lawsuit accusing the bank of causing taxpayers more than $1 billion in losses by selling toxic mortgage loans to Fannie Mae and Freddie Mac, a …
A New York state judge made it easier for the bond insurer MBIA Inc. to pursue its $1.4 billion lawsuit accusing Bank of America Corp.’s Countrywide Financial unit of fraudulently inducing it to insure risky mortgage-backed securities. New York State …
MBIA Inc. may pursue a lawsuit accusing Bank of America Corp.’s Countrywide Financial unit of fraudulently misleading it about mortgage securities it insured, costing at least $1.4 billion. A New York state appeals court in Manhattan agreed with a lower …
Angelo Mozilo, the former Countrywide Financial Corp. chief executive, urged a federal judge to throw out Allstate Corp.’s lawsuit seeking to hold him responsible for losses on toxic mortgage debt it bought. The largest publicly traded U.S. home and auto …
Bank of America Corp.’s Countrywide mortgage unit has been sued by investors claiming they were victimized in a ‘massive fraud” when they bought mortgage-backed securities. The lawsuit was filed on Monday in a New York state court by 12 plaintiffs …
