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Tag Archives: Countrywide

Weak Performance Offsets Countrywide Settlement

Increasing pool losses and riding shares of delinquent loans muted the positive credit effects of recent settlements, according to a release sent by Moody’s analysts on Tuesday. The influx of $7.35 billion of settlement proceeds to deals involving outstanding Countrywide ...

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Bank of America Asks for Removal of $1.27 Billion Penalty, Questions Judge’s Impartiality

Bank of America was ordered to pay a $1.27 billion civil penalty in July 2014 as a result of its alleged role in the Hustle case. The bank has been fighting to overturn that verdict since, claiming that the Hustle program ended prior to its July 2008 acquisition of Countrywide. Rakoff rejected a motion by the bank to have the verdict reversed in early February. He also rejected the bank's motion for a new trial at that time.

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