Wednesday, October 24, 2012

US Sues Bank of America Over Bad Loans



The US Attorney's office alleged in a statement on Wednesday that Countrywide - the mortgage giant now owned by Bank of America - labelled defective mortgages as high-quality and sold them to state-controlled mortgage lenders Fannie Mae and Freddie Mac, resulting in billions of dollars of losses.

This is the first civil fraud suit brought by the Department of Justice concerning mortgage loans sold to Fannie Mae or Freddie Mac.

See the full story at www.telegraph.co.uk.

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6 comments:

wrightrichard007 said...

Thanks for this post. After growing up in Knoxville for some years, I spent some time in Carlton OR. Investment property there is pretty difficult to acquire and the market is worse because of how strict they are. Thanks for the information here.

David Beals said...

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Roderick Parker said...

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spencer shawn said...

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dev smith said...

i also want to take loan form bank up to 1 lack so pls suggest me from which bank should i take this.
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