Search for: "Countrywide Bank"
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13 Sep 2011, 10:41 am
Investors who bought toxic mortgage-backed bonds from Bank of America’s Countrywide, and homeowners seeking loan modifications are proposing drastic measures to better enable BofA to deal with the onslaught of their litigation without a bankruptcy or a receivership imposed by the Federal Deposit Insurance Corporation. [read post]
20 Nov 2012, 2:05 pm
The latest settlements bring the total amount recovered so far from the whistleblower lawsuit to $162 million.The mortgage lenders that settled the whistleblower lawsuit and the amounts they paid are: Countrywide Home Loans Inc. ($45 million), PNC Bank ($38 million), First Tennessee Bank ($16 million), SunTrust Mortgage ($10.2 million) and CitiMortgage ($7.5 million).In March, JPMorgan Chase agreed to pay $45 million to settle similar claims against it.The whistleblower… [read post]
22 Apr 2013, 1:28 am
The Kentucky bank is the First Federal Bank of Lexington, Kentucky. [read post]
25 Jan 2011, 7:24 am
In the debate over whether the mortgage-backed securities of recent years “taste great,” or are “less filling,” it appears that institutional investors and some of the world’s largest insurance companies are now saying that they’re less filling… as in Countrywide and Bank of America neglected to include the mortgage-backed part, and instead sold them empty “securities. [read post]
26 Nov 2010, 5:43 am
Bank of America attempted to foreclose on a home involved in the bankruptcy, whose loan had originally been issued by Countrywide but was supposedly sold to the Bank of New York. [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]
13 Jan 2011, 5:30 am
Bank of America will pay $3 billion to cover the bad mortgages, most of which were purchased by Fannie and Freddie from Countrywide Financial. [read post]
19 Nov 2012, 6:08 am
On November 13, Phoenix Light SF Limited and other investors filed a summons with notice in the Supreme Court for the State of New York against Bank of America and various Countrywide affiliates. [read post]
31 Aug 2021, 8:00 am
We rely on using online shopping for buying opportunities and use financial platforms for banking and investment. [read post]
3 Dec 2009, 7:24 pm
This Countrywide Consent Judgment shows some more of the shenanigans. [read post]
24 Sep 2008, 8:59 am
The Associated Press reports that Fannie Mae, Freddie Mac, Lehman Brothers Holdings, AIG and Countrywide Financial (recently bought by Bank of America) are five of them. [read post]
8 Aug 2011, 6:56 am
The now-defunct lender, which was purchased by Bank of America several years ago, has been accused of fraud when originating loans, foreclosing and even charging fees and interest to borrowers. [read post]
16 Nov 2006, 11:18 pm
If the change is approved, the Countrywide Bank unit would become a federal savings bank, and the parent company would convert to a savings and loan holding company, the Calabasas-based lender said in a statement [November 10]. [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]
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]
12 Mar 2010, 1:59 am
Brian Ragauckas, 36, Secaucus, New Jersey, a police officer, was arrested based on a Complaint charging him with bank fraud in connection with a $529,777 mortgage loan that he obtained through false representations to the former Countrywide Bank FSB. [read post]
5 Aug 2011, 1:22 am
New York's attorney general has filed a lawsuit against Bank of New York Mellon in an effort to block the $8.5 billion deal the bank struck with Bank of America over loan pools from Countrywide. [read post]
23 Apr 2010, 2:41 am
Shareholders lost billions of dollars when Countrywide’s stock price plunged before the company’s acquisition by Bank of America. [read post]
9 Aug 2011, 4:43 pm
Eric Schneiderman has intervened in the settlement between Bank of New York Mellon and Bank of America. [read post]
24 Sep 2010, 12:16 pm
Bank of America services the former Countrywide portfolio, plagued by predatory loan originations and servicing errors. [read post]
