13 hrs ago
Bank of America reportedly agrees to pay $17 billion to deal with mortgage-abuse claims
Bank of America Corp. 's record U.S. settlement over the sale of mortgage bonds in the run-up to the 2008 financial crisis will be announced as soon as Thursday, two people with knowledge of the matter said.
17 hrs ago
National Mortgage News
Countrywide's Mozilo Said to Face U.S. Suit Over Subprime Loans
Eight Reasons the Housing Recovery's Been So Slow From tight credit conditions to empty nesters, here is a litany of problems weighing on the housing market, as summarized in the minutes of last month's Federal Reserve policy meeting.
19 hrs ago
Silicon Alley Insider
The Feds Are Finally Going After One Of The Worst Villains Of The Financial Crisis
Countrywide Financial Corporation founder and CEO Angelo Mozilo is sworn in to testify before the House Committee on Oversight and Government Reform on Capitol Hill in Washington March 7, 2008.
Fri Aug 15, 2014
The Charlotte Observer
The deal that cost Bank of America $50 billion – and counting
In this Feb. 11, 2009 file photo, Bank of America Chairman and Chief Executive Officer Ken Lewis, left, and other top chief executive officers of banking institutions, testify on Capitol Hill in Washington before the House Financial Services Committee.
Thu Aug 07, 2014
Pay Up, BofA: Court Orders $1B in Damages as DoJ Settlement Nears
In 2008, before the Great Recession was in full swing, Bank of America bought Countrywide Financial, in efforts to solidify its position in commercial banking , according to NPR.
Fri Aug 01, 2014
Merrill Lynch And Countrywide Financial: Huge Thorns In The Side Of Bank Of America
BAC's Merrill Lynch and Countrywide Financial acquisitions continue to cause major problems with regards to unresolved mortgage-backed securities.
Thu Jul 31, 2014
Los Angeles Times
Freddie Mac: Mortgage rates hold steady; 30-year averaging 4.12%
Three out of 5 home builders surveyed reported difficulty in completing their houses on time because of a labor shortage.
Wed Jul 30, 2014
The Washington Post
Bank of America ordered to pay damages of $1.27 billion for Countrywide fraud
A federal judge on Wednesday ordered Bank of America to pay $1.27 billion in damages over thousands of defective mortgages sold by its Countrywide Financial unit, delivering a win for the government in one of the few major trials stemming from the financial crisis.