Ex-Countrywide Exec Denies Cheating Fannie And Freddie

Law360, New York (October 15, 2013, 7:03 PM EDT) -- A former Countrywide Financial Corp. executive denied having schemed to rip off Freddie Mac and Fannie Mae through a program designed to speed mortgage issuing, as she testified Tuesday for the first time in the government's fraud trial in New York district court.

Rebecca Mairone, a former chief operations officer at a division of Bank of America Corp.'s subsidiary Countrywide, told jurors she never intended the High-Speed Swim Lane program to produce bad loans and never schemed to unload those loans on Freddie and Fannie....
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