Search for: "Countrywide Bank"
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3 Apr 2013, 8:16 am
’s blue sky law and Section 12(a)(2) of the Securities Act of 1933 against subsidiaries of Countrywide that were depositors, successor liability claims against Bank of America and claims under Section 11 of the Securities Act of 1933 against the Individual Defendants. [read post]
25 Mar 2013, 1:09 am
In its list of failed bank lawsuit settlements, Cornerstone Research identified two cases – involving Heritage Community Bank and Corn Belt Bank and Trust Company – for which the settlement amounts had not been reported. [read post]
12 Feb 2013, 11:02 am
Civil rights advocates are hopeful that the HUD regulation will receive some deference from a Supreme Court that might otherwise be inclined to go with the banks on this issue. [read post]
22 Jan 2013, 7:46 am
Countrywide Bank, No. 12-5250, the Sixth Circuit applied the U.S. [read post]
22 Jan 2013, 7:06 am
Pfaelzer of the United States District Court for the Central District of California dismissed a $193 million suit brought by mutual fund Asset Management Fund against several Bank of America and several related entities, including Merrill Lynch and Countrywide Financial. [read post]
15 Jan 2013, 3:50 pm
In August of 2005, Countrywide Home Loans (“Countrywide”) began servicing the loan. [read post]
14 Jan 2013, 8:22 am
The agreement, which covers loans with an aggregate original principal balance of approximately $1.4 trillion and an aggregate outstanding principal balance of approximately $300 billion, resolves all outstanding and future representation and warranty claims associated with substantially all residential mortgage loans sold directly to Fannie Mae by Bank of America or Countrywide from January 1, 2000 through December 31, 2008. [read post]
14 Jan 2013, 8:18 am
Pfaelzer of the Central District of California ruled on motions to dismiss filed by defendants Countrywide, Bank of America, and UBS in an action brought against them by the Federal Deposit Insurance Corp. [read post]
9 Jan 2013, 6:47 pm
In doing so, the bank took substantial, if costly, steps to shed itself of the Countrywide albatross. [read post]
7 Jan 2013, 5:30 pm
Bank of America bought Countrywide Financial Corp. in July 2008, just before the financial crisis. [read post]
3 Jan 2013, 12:28 am
As Bank Failures Wane, the FDIC Ramps Up the Failed Bank Litigation: The number of bank failures dropped significantly in 2012 compared with prior years. [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]
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]
19 Nov 2012, 12:29 am
Now more than a year after the high-profile Countrywide opt-out suit, some of the same claimants, represented by the same law firm, have now opted out of the class action Pfizer securities litigation pertaining to the company’s disclosures about the safety of its Celebrex and Bextra pain medication. [read post]
18 Nov 2012, 4:24 pm
According to BloombergBusinessweek just two days ago on November 15, 2012, the Federal Housing Administration (“FHA”) is going to need to be the next multi-billion dollar taxpayer funded bailout. [read post]
14 Nov 2012, 8:07 pm
There is no substitute for an in camera demonstration that companies such as Countrywide actually have the real origination documents. [read post]
6 Nov 2012, 11:11 am
In this past year alone, the Department of Justice has successfully negotiated residential fair lending settlements against Countrywide Financial (now a subsidiary of Bank of America) and Wells Fargo for African American and Hispanic minority borrowers who were steered into subprime mortgages or who paid higher fees and rates than white borrowers because of their race or national origin. [read post]
5 Nov 2012, 11:11 pm
There is a lot of competition among the deals completed in the run up to the financial crisis for the title of worst deal of all time (think, for example of BofA’s acquisition of Countrywide). [read post]
1 Nov 2012, 9:02 am
Federal prosecutors are going after Bank of America and its subsidiary, Countrywide, for what it says were brazen and widespread mortgage fraud abuses perpetuated against the government and taxpayers. [read post]
31 Oct 2012, 7:37 am
Although Bank of America didn't control Countrywide at the time the alleged scheme first started in 2007, prosecutors say BofA knowingly continued this fraud long after it acquired Countrywide. [read post]
