Search for: "Countrywide Bank"
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17 Feb 2014, 1:11 pm
Countrywide Homes Loans, 261 S.W.3d 68, 72 (Tex. [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]
7 Feb 2014, 2:53 am
In 2013 this increased to over 3.1 million The top 50 business customers accounted for 1.2 million of the total 3.1 million applications.Top 50 conveyancers lodging applications in 2013 were as follows:CUSTOMER NAME COUNT SANTANDER UK PLC 118428 BARCLAYS BANK PLC 96482 ENACT CONVEYANCING LIMITED 75284 HSBC BANK PLC … [read post]
22 Jan 2014, 7:42 am
Foley admitted in his plea agreement that he defrauded Countrywide Home Loans (now owned and operated by Bank of America) of mortgage and home equity line of credit loans in the amounts of $2,624,475 and $374,925. [read post]
17 Jan 2014, 8:37 am
“Wright recruited straw borrowers to purchase properties funded by mortgage loans from Countrywide Home Loans – later TARP recipient Bank of America – obtained by submitting false information and inflated income estimates on loan applications. [read post]
4 Nov 2013, 5:13 pm
While the suit was pending in the federal district court, the company merged into a wholly-owned subsidiary of Bank of America Corporation in a stock-for-stock transaction that divested the plaintiffs of their shares.Continuous ownership rule. [read post]
30 Oct 2013, 10:13 pm
Bank of America was found liable for the fraud for a program known as HSSL or Hustle because in June 2008 Bank of America acquired Countrywide. [read post]
28 Oct 2013, 12:04 pm
Bank of America, who bought Countrywide in 2008, denied any knowing of wrongdoing, fraud, or issues with the loans. [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]
22 Oct 2013, 5:00 am
Bloomberg is reporting that Bank of America Corp., sued by U.S. attorneys in August over an $850 million mortgage bond, faces three additional Justice Department civil probes over mortgage-backed securities, according to two people with direct knowledge of the situation.U.S. attorneys offices in Georgia and California are examining potential violations tied to Countrywide Financial Corp., the subprime lender Bank of America bought in 2008, said the people, who asked not to… [read post]
21 Oct 2013, 10:26 am
(“Countrywide”) and Indymac Bank, F.S.B. [read post]
25 Sep 2013, 5:55 am
The trial against Bank of America Corp's Countrywide unit has begun and the prosecutor has stated that the company placed profits over quality in a "massive fraud" selling shoddy mortgages to Fannie Mae and Freddie Mac.The claim came at the start of the first case by the government to go to trial against a major bank over defective mortgage practices leading up to the 2008 financial crisis. [read post]
19 Sep 2013, 8:17 am
'Just under half of all flats and townhouses countrywide were built in Gauteng between 2001 and 2011,' it said. [read post]
17 Sep 2013, 7:08 am
Delaware Supreme Court Clarifies Post-Merger Derivative Standing Rules John Grossbauer of Potter Anderson notes: Recently, in Arkansas Teacher Retirement System v Countrywide Financial Corp., the Delaware Supreme Court answered a certified question of law from the Ninth Circuit Court of Appeals that questioned the standing of former Countrywide Financial Corp. stockholders to maintain a derivative action following Countrywide's acquisition by Bank of America. [read post]
3 Sep 2013, 7:00 am
District Court for the Central District Court of California dismissed with prejudice a suit brought by the Federal Deposit Insurance Corporation (FDIC) against Countrywide Securities Corporation, Countrywide Financial Corporation, Bank of America Corporation, Deutsche Bank Securities, Inc. and Goldman, Sachs & Co. [read post]
29 Aug 2013, 11:43 pm
To Pay $688,000 In Overtime Backpay; Banks’ $1Million Overtime Settlement Shows Risks of Misapplying FLSA’s Administrative Exemption; Employer Charged With Misclassifying & Underpaying Workers To Pay $754,578 FLSA Backpay Settlement; $1 Million + FLSA Overtime Settlement Shows Employers Should Tighten On-Call, Other Wage & Hour Practices. [read post]
14 Aug 2013, 12:54 pm
It says that Yellen was the head of the Federal Reserve Bank of San Francisco, which was Countrywide's regulator. [read post]
6 Aug 2013, 6:53 am
The victim lenders who suffered losses as a result of the alleged scheme include Washington Mutual Bank, Wells Fargo Bank, Countrywide Bank, IndyMac Bank, SunTrust Bank, World Savings Bank and JPMorgan Chase Bank. [read post]
27 Jul 2013, 7:57 am
Bank of America is on the hook for over $40 billion worth of misrepresentations to the government because of its purchase of Merrill Lynch and Countrywide. [read post]
8 Jul 2013, 2:00 am
That was the question before the Delaware Supreme Court earlier this week in connection with the derivative suit filed against the management of Countrywide Mortgage prior to the company’s acquisition by Bank of America. [read post]
