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BofA to pay $335 million to settle Countrywide mortgage bias probe
Money & CompanyThe post has been updated. See below for details. Bank of America Corp. has agreed to pay $335 million to settle allegations that Countrywide Financial, which it now owns, systematically discriminated against minority home-buyers at the peak of the U.S...... -
List of banks sued over mortgage securities sales
A federal agency on Friday sued 17 financial firms, including the largest U.S. banks, for selling Fannie Mae and Freddie Mac billions of dollars worth of mortgage-backed securities that turned toxic when the housing market collapsed. Here is a list of...Tags: Nomura Holding Incorporated, HSBC Holdings plc, First Franklin Corporation, General Electric Company, Fannie Mae
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Feds sue big banks over sales of risky investments
NEW YORK — The government on Friday sued 17 financial firms, including the largest U.S. banks, for selling Fannie Mae and Freddie Mac billions of dollars worth of mortgage-backed securities that turned toxic when the housing market collapsed.
Among...Tags: Securities, File Sharing, UBS AG, Fannie Mae, JPMorgan Chase & Co.
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Bank of America to Cut At Least 30,000 Jobs
KTLA NewsCHARLOTTE, NC (KTLA) -- Bank of America will cut at least 30,000 jobs, or some 10 percent of its workforce, in order to reduce annual expenses by $5 billion through 2014, according to reports. The layoffs, which will come mainly from the bank's...Tags: Career and Workplace, Unemployment, KTLA, Banking, Bank of America Corp.
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Floridians enduring long waits to see if they'll get Countrywide refund check
Sun SentinelFloridians who financed mortgages through Countrywide Financial Corp. have often been encountering long waits to speak to a customer service representative to see if they will get a refund check as part of a national settlement. The U.S. Federal...Tags: Consumers, Bank of America Corp., Florida
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CalPERS, other investors, settle suit against Countrywide, BofA
Money & CompanyCalPERS vs. Countrywide: California's giant public pension fund and 15 other large investors settled lawsuits accusing former mortgage goliath Countrywide Financial Corp. of costing them billions of dollars in stock losses.... -
Regulators fine former Vineyard Bank CEO Norman Morales
Money & CompanyIt's not quite up there with former Countrywide boss Angelo Mozilo's $67.5-million settlement, but regulators have fined another former Southland banker for alleged misconduct during the housing boom. Norman A. Morales, the former president and chief... -
Bank of America announces $14-billion settlement of Countrywide mortgage claims
Money & CompanyThis post has been corrected. See the note at the bottom for details. If Countrywide Financial co-founder Angelo Mozilo had sold former Bank of America boss Ken Lewis a kitchen sink, maybe they could have tossed that in there too....... -
JPMorgan Chase mortgage results bode well for Wells Fargo
Money & CompanyWhither mortgage lending? Many foreclosures are back on hold as the big banks wrestle with regulators over the price they must pay for botching their handling of distressed borrowers. Bank of America, preannouncing its earnings, said in late June that....... -
BofA shares dip below $10 for first time in 2 years
Money & CompanyBank of America Corp. shares have dropped below $10 a share for the first time in more than two years, as investors worry that the bank will have more bad news to disclose when it reports earnings on Tuesday. Pre-announcing...... -
FTC: Countrywide borrowers to get $108 million in refunds for alleged abuses
Money & CompanyFTC: Countrywide borrowers to get $108 million in refunds for alleged abuses... -
Jeff Madrick on Southern Californians and the financial crisis
Money & CompanyThe growing bookshelf of volumes on the financial crisis have tended to focus on the last decade and the various elements that gave rise to the subprime mortgage meltdown. Jeff Madrick, a former economics columnist for the New York Times,......
Dec 21, 2011
| Los Angeles Times
Sep 3, 2011
|Story| Petoskey News
Sep 3, 2011
|Story| Petoskey News
Sep 12, 2011
|Story| KTLA-LTV
Jul 22, 2011
|Story| South Florida Sun-Sentinel
Nov 22, 2011
| Los Angeles Times
Jun 24, 2011
| Los Angeles Times
Jun 29, 2011
| Los Angeles Times
Jul 14, 2011
| Los Angeles Times
Jul 15, 2011
| Los Angeles Times
Jul 20, 2011
| Los Angeles Times
Jul 21, 2011
| Los Angeles Times
Original site for Countrywide Financial Corp. topic gallery.