Bank of America thought it was laying claim to a crown jewel of American mortgage lending when it scooped up Countrywide Financial Corp. at the depths of the housing crisis in 2008.
Thursday, October 25, 2012
U.S. sues BofA, calling loan fraud 'brazen'
The $1-billion civil suit alleges that BofA's Countrywide fraudulently deceived mortgage finance giants Fannie Mae and Freddie Mac into believing the company's risky loans were safe and sound.
Bank of America thought it was laying claim to a crown jewel of American mortgage lending when it scooped up Countrywide Financial Corp. at the depths of the housing crisis in 2008.
Bank of America thought it was laying claim to a crown jewel of American mortgage lending when it scooped up Countrywide Financial Corp. at the depths of the housing crisis in 2008.
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