Search for: "Countrywide Bank/Bank of America"
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19 Feb 2019, 3:47 pm
On February 11, Bank of America, Merrill Lynch, and Countrywide (together, “the Banks“) filed suit against the National Credit Union Administration Board (“NCUA“) in its capacity as liquidating agent or conservator to six credit unions who purchased MBS issued by the Plaintiffs. [read post]
31 May 2016, 1:56 pm
(“Countrywide”), and Bank of America, N.A. [read post]
14 Sep 2011, 7:47 pm
“Bank of America encourages associates to raise issues they see. [read post]
2 Dec 2008, 8:04 pm
A hedge fund, run by William Frey, has sued Countrywide and its parent, Bank of America, on their agreement with 15 state attorney generals to modify 400,000 mortgages originated and serviced by Countrywide. [read post]
29 Oct 2012, 1:03 am
An October 29 article in the Wall Street Journal’s law blog cites Ben Vernia, attorney at the Vernia Law Firm, regarding the novel approach taken by the Department of Justice in its recent False Claims Act suit against Bank of America over the mortgage underwriting practices of Countrywide, which BofA acquired in 2008. [read post]
17 Jun 2008, 2:47 pm
Each time I look at this site, which tracks foreclosures at Countrywide Financial (CFC), I become even more convinced that Bank of America (BAC) still doesn’t get the full extent of the problem it will soon inherit, no matter how many times Ken Lewis says otherwise. [read post]
9 Apr 2012, 11:23 pm
Countrywide Home Loans Inc. had originally been master servicer until it merged with Bank of America (BAC). [read post]
4 Jun 2011, 7:30 pm
Bank of America has agreed to a $20 million settlement for wrongfully foreclosing on 160 service members without checking on their military status. [read post]
26 Apr 2011, 10:04 am
Los Angeles federal district court judge Mariana Pfaelzer held that Bank of America's 2008 acquisition of Countrywide was a sale of assets and not a de facto merger. [read post]
13 Feb 2014, 2:07 pm
The Bank of New York Mellon, acting as the trustee for trusts that in the aggregate issued US$424 billion in RMBS backed by mortgages originated by Countrywide, entered into an agreement with Bank of America in 2011 to resolve claims alleging breaches of representations and warranties and alleged violations of prudent servicing obligations. [read post]
14 Jan 2008, 7:36 am
On Friday, Bank of America (BAC) announced that it was acquiring Countrywide Financial (CFC) in what is either a fire-sale price of $4 billion, or still too much, based on the problems Countrywide faces. [read post]
13 May 2013, 12:25 pm
On May 8, Judge Jed Rakoff of the United States District Court for the Southern District of New York dismissed claims by the United States for damages and civil penalties under the False Claims Act against Countrywide and Bank of America. [read post]
20 Oct 2008, 3:27 am
A group of appraisers in Idaho filed a class-action lawsuit Thursday against Countrywide Financial Corp. - Now, Bank of America Corp..., after its recent acquisition - claiming the company used "strong-arming tactics to intimidate appraisers to generate reports in line with Countrywide's business objectives. [read post]
27 Feb 2012, 6:10 pm
Lost in the attention to the state-federal mortgage servicing settlement is the other major servicing fraud settlement: the $8.5B deal between BONY as trustee for various MBS trusts and Countrywide (Bank of America) over putback claims for securitization of mortgages that didn't comply with the requirements of the securitization documents. [read post]
10 Jun 2010, 8:07 pm
In an effort to address the federal charges, Bank of America agreed to pay $108 million to settle the various federal charges brought against Countrywide. [read post]
21 Aug 2014, 4:35 pm
“Attorney General Eric Holder and Associate Attorney General Tony West announced today that the Department of Justice has reached a $16.65 billion settlement with Bank of America Corporation – the largest civil settlement with a single entity in American history ¬— to resolve federal and state claims against Bank of America and its former and current subsidiaries, including Countrywide Financial Corporation and Merrill Lynch. [read post]
25 Mar 2010, 7:12 am
’’ The settlement calls for Bank of America and Countrywide to propose reductions in principal on underwater home loans at the beginning of the loan modification process, rather than as a last resort. [read post]
24 Oct 2013, 10:57 am
A jury found both former Countrywide executive Rebecca Mairone and Bank of America liable for fraud for Countrywide’s “Hustle” loans in 2007 and 2008 (see here). [read post]
24 Mar 2010, 2:16 pm
In a blog post on Planet Money titled The Latest Loan Modification: Don’t Get Your Hopes Up NPR is reporting today that Bank of America has decided that it will be cheaper and easier to reduce principal rather than interest on “severely under water loans. [read post]
14 Dec 2011, 2:13 pm
Bank of America, Richard Marr of Wisconsin sued Bank of America for failing to give him the required number of notices of his right to rescind his 2007 refinance. [read post]
