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thickens servo: prophets lifted 11 States and $8 billion settlement; countrywide foreclosures suspended, Mortgages to be Modified thickens servo: prophets lifted food-reform advocates like to stick to the facts, believing that if they can just construct a rational, air-tight argument, they’ll convince the public.
In 2008, Bank of America Corp. settled charges brought by 15 attorneys related to accusations of predatory lending in its Countrywide Financial Corp. unit, granting loan modifications worth $8.4.
Prosecutors Say Florida AG Fired Them For Going After Mortgage Lenders Florida attorney general bill mccollum says that his office has sued 10 companies and 15 individuals for their alleged roles in a significant mortgage fraud scheme in central Florida. The ring obtained more than $37 million in mortgage loans for at least 60 home purchases and siphoned off more than.
NEW YORK (Reuters) – As part of a settlement with state attorneys general that could be worth as much as $8.6 billion, Bank of America Corp said on Monday it would cut interest rates and principal.
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The parties originally agreed to the $8.5 billion settlement five years ago, but in the years since then, the sides battled in court over whether Bank of New York Mellon had the authority to settle.
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This program is a settlement with the CA Attorney General, Jerry Brown, and other state attorney generals that were suing Countrywide / Bank of America for predatory lending practices. It is expected to provide up to $8.4 Billion to 400,000 borrowers nationwide, with $3.5 Billion to 125,000 borrowers in CA.
In reviewing one Illinois mortgage broker’s sales of Countrywide loans, the complaint said the "vast majority of the loans had inflated income, almost all without the borrower’s knowledge." Other states in the settlement are Arizona, Connecticut, Florida, Iowa, Michigan, North Carolina, Ohio, Texas and Washington.
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