DOJ demands more in BofA, Countrywide deal

The Justice Department was investigating Countrywide for charging higher rates. of Countrywide was not the greatest of deals to say the least, and a $335. to the GSEs for repurchase claims but there's more claims waiting.

The bank is now focusing on settlements with the U.S. Department of Justice. Bank of America brought much of this pain on itself, when it bought Countrywide in 2008. Brian Moynihan, who became the.

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BoA liable for up to $848m in damages after Countrywide found guilty of selling. The government claims Fannie and Freddie made a gross loss of $848m on. Most of the wrongdoing took place before Bank of America acquired. Advertise with us · Guardian Labs · Search jobs · Dating · Discount Codes.

 · Bank Of America’s Countrywide Acquisition Gets 2.5% worse. fraudulent mortgages that somebody else was suing Countrywide over? The DOJ’s. least puts more pressure on BofA to cough up some.

BofA/Countrywide Merger Arbitrage Opportunity.. The argument against the deal for Bank of America is the fact that there still may be more and unpredictable losses to come, while also the.

10 cities with huge housing improvement The big winners, especially in tech, have a role to play. The Google plan calls for $750 million to create 15,000 units across the income scale over 10 years. income housing that’s squeezed out by.

Bank of America Buys Countrywide Countrywide. the insurer that guaranteed several mortgage-bond deals backed by countrywide loans. million settlement on Military Foreclosures The Justice.

Bank of America Corp was found liable for fraud on Wednesday over. The U.S. Justice Department has said it would seek up to $848.2 million, the. said the Bank of America verdict was a “big deal because it shows the. that banks more typically choose to settle government claims instead of face a jury.

California Bay Area home sales hit 5-year high An increase in sales among higher-end homes drove Bay Area prices to another record in May, according to a new CoreLogic report. The number of homes – new and resale – that sold for $800,000.

 · BofA Sued by DOJ & SEC Over RMBS. The DOJ lawsuit has been filed under the financial institutions reform, Recovery and Enforcement Act, which has a 10-year statute of limitations and therefore gives law enforcement agencies more time to sue financial institutions. In a similar case, in February this year, Standard & Poor’s Ratings Services (S&P).

(Reuters) – Bank of America Corp (BAC.N) is close to a deal with the U.S. Department of Justice to pay more than $16.5 billion to end investigations. it took on through the acquisitions of.