A partial shutdown of government operations would result in the closing of some federal housing, mortgage, and other programs of interest to the housing industry if Congress is unable to agree on the provisions of a Continuing Resolution to fund the federal government by September 30.
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Bank of America Continues Fight to Overturn ‘Hustle’ Case Verdict
The department's argument came as a response to a late August filing by lawyers representing the megabank, who then said the government failed to conclusively prove that BofA's Countrywide unit misrepresented the quality of loans packaged and sold to the GSEs in the lead-up to the housing crash. In their own filing, Bank of America's team said argued "the evidence unambiguously showed that the ... loans sold to Fannie and Freddie were well within industry standards for loan quality, and thus Fannie and Freddie received exactly what they paid for."
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