Mass. Reaches $3B Loan Deal In Countrywide Probe

Law360, New York (March 24, 2010, 7:16 PM EDT) -- Bank of America NA will make $3 billion in loan modifications for homeowners as part of a settlement announced Wednesday in Massachusetts Attorney General Martha Coakley's predatory-lending case against Countrywide Financial Corp.

The agreement, filed in Suffolk Superior Court, expands on an earlier loan modification deal between Bank of America-owned Countrywide and 43 other state attorneys general and the District of Columbia in 2008, Coakley said.

The agreement includes about $18 million in loan modifications for Massachusetts homeowners, $3 billion in loan modifications for homeowners across...
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