Search for: "Countrywide Bank/Bank of America"
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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
Bank of America, led by Chief Executive Officer Brian T. [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]
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… [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]
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]
3 Jun 2013, 10:35 am
On May 29, Justice Eileen Bransten in the Supreme Court of the State of New York partially granted a motion to dismiss in a case by U.S Bank against Bank of America and Countrywide seeking the repurchase of 4,484 mortgages securitized in a $1.75 billion RMBS trust. [read post]
27 May 2013, 7:22 pm
Bank of America Corporation successor to Countrywide Financial Corp., 12-cv-1422, U.S. [read post]
20 May 2013, 4:45 pm
For Bank of America, its acquisition of Countrywide has been a persistent melding of farce and tragedy. [read post]
14 May 2013, 5:00 am
Countrywide Financial Corporation, civil division prosecutors argued that Bank of America and Countrywide’s allegedly fraudulent sale of mortgage-backed securities to Fannie Mae and Freddie Mac “affected” themselves by exposing the banks to risk of loss due to repurchase requirements. [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]
13 May 2013, 12:24 pm
(AIG) to proceed with several of its claims against Bank of America and related entities arising from AIG’s purchase of Countrywide-issued RMBS. [read post]
13 May 2013, 12:18 pm
On May 6, monoline insurer MBIA announced that it had reached a $1.7 billion settlement with Bank of America in connection with alleged fraud and breach of contract claims related to Countrywide-issued mortgage-backed securities insured by MBIA. [read post]
9 May 2013, 7:40 am
America is quickly becoming a cashless society. [read post]
6 May 2013, 6:54 am
Bank of America will pay $500 million to settle lawsuits by investors nationwide, including the Oregon Public Employees Retirement Fund, against Countrywide Financial Corp. [read post]
29 Apr 2013, 7:45 am
., Bank of America, Citigroup and Deutsche Bank AG related to the sale of RMBS originated by Countrywide. [read post]
22 Apr 2013, 2:43 pm
Bank of America/Countrywide - $1 billion Bank of America agreed to a $1 billion settlement with the government. [read post]
