U.s. Sues Bofa, Calling Loan Fraud 'brazen'

By Walter Hamilton and E. Scott Reckard, Los Angeles Times, Los Angeles Times
Thu, 10/25/2012 - 12:25am

The $1-billion civil suit alleges that BofA's Countrywide fraudulently deceived mortgage finance giants Fannie Mae and Freddie Mac into believing the company's risky loans were safe and sound.Bank of America thought it was laying claim to a crown jewel of American mortgage lending when it scooped up Countrywide Financial Corp.

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Topics: bank of america banks billion countrywide fannie mae freddie mac housing market lawsuit mortgage real estate

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