Bank of America recently moved to dismiss a lawsuit filed by Ambac Assurance Corp. in New York state court, alleging $600 million in damages for fraudulent inducement in connection with payments it made under policies...more
BofA’s “hustling” attempt to overturn a $1.27 billion judgment against it and Countrywide—along with the individual defendant identified in the next paragraph, the “Defendants”—in the U.S. District Court for the Southern...more
On Tuesday, Bank of America disclosed in its annual report with the US Securities and Exchange Commission (SEC) that “government regulators” in North America, Europe and Asia are investigating its foreign exchange and...more
We have long been skeptical of most loan “repurchase” or “indemnification” demands made by big banks against the third-party originators (i.e., correspondent lenders) who sold those loans to the big banks many years ago....more
1/10/2013
/ Aurora ,
Bank of America ,
Chase Bank ,
Citibank ,
Countrywide ,
Foreclosure ,
Mortgages ,
Settlement ,
SunTrust ,
US Bank ,
Wells Fargo ,
Wrongful Foreclosures
How can Countrywide/B of A even keep a straight face when it argues that correspondent lenders need to pay it outrageous amounts of money to settle claims for actual or potential losses?...more