Fannie Mae Countrywide

News & Analysis as of

Fraud Verdict Against Countrywide & BofA Upheld

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

Court Declines to Vacate Jury Verdict in Countrywide FIRREA Lawsuit

On February 3, Judge Jed S. Rakoff of the United States District Court of the Southern District of New York denied Bank of America Corporation’s and Rebecca Mairone’s motion for judgment as a matter of law, or, in the...more

When Being Ethical Pays Off – Countrywide Whistleblower Gets $56.7 Million Payout

A former executive at mortgage lender, Countrywide Financial, is about to become an extremely wealthy man. Edward O’Donnell is set to collect $57.6 million from Bank of America, for his role in exposing fraudulent activity...more

Human or Technology Assisted: Imperfect Review Can Still be Defensible (SDNY)

It’s a common refrain that, while courts have allowed the use of technology assisted review, no court has yet blessed the outcome of an imperfect technology assisted review process over the objection of another party. But...more

Credit Crunch Digest -- November 2013

This issue of the Credit Crunch Digest focuses on new Libor cases filed against major banks and an update regarding two U.K. Libor cases; a jury verdict against Bank of America in connection with conduct by Countrywide;...more

Credit Crunch Digest -- October 2013

This issue of the Credit Crunch Digest focuses on the indictment of former ICAP employees for rate fixing of the yen Libor; a new lawsuit filed against global banks for their involvement in Libor manipulation schemes; a...more

Where There’s Smoke, There’s FIRREA

Few can ignite a legal firestorm like U.S. District Judge Jed Rakoff of the Southern District of New York. Last week, in a mortgage fraud suit against Bank of America and Countrywide, Judge Rakoff refused to dismiss a novel...more

Orrick's Financial Industry Week in Review - January 14, 2013

In This Issue: - Financial Industry Developments •CFPB Rules on Ability-to-Repay and Qualified Mortgages •Independent Foreclosure Review Settlement •CFPB Final Rules on High-Cost Mortgages •Rating Agency...more

Bank of America and Fannie Mae Reach $10 Billion Settlement Agreement

Bank of America announced on January 7 that it would pay $3.6 billion to Federal National Mortgage Association (Fannie Mae) and repurchase for $6.75 billion certain residential mortgage loans sold to Fannie Mae....more

U.S. Sues Bank of America for Alleged Mortgage Fraud Against GSEs

On October 24, the U.S. Attorney for the Southern District of New York filed suit against Bank of America and Countrywide seeking damages for over $1 billion in alleged losses suffered by Fannie Mae and Freddie Mac....more

Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina [Video]

Oct. 25 (Bloomberg Law) -- Bloomberg Law's Lee Pacchia runs through the week's most important legal news. Bank of America was sued by the federal government for over $1 billion in damages on claims that the bank defrauded...more

11 Results
|
View per page
Page: of 1

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×