Countrywide Reaches Truce With Pa. Trustee

Law360, New York (July 16, 2008, 12:00 AM EDT) -- After months of bickering, Countrywide Home Loans has reportedly agreed to pay $325,000 to put to rest charges of abusive practices in nearly 300 mortgage loans presided over by the Pennsylvania court.

On Wednesday, The New York Times reported that Countrywide and Ronda Winnecour, the Chapter 13 trustee for the district of Western Pennsylvania, had buried the hatchet, though the settlement still needs to be approved by the court.

Winnecour had previously demanded that Countrywide be sanctioned for purportedly losing or destroying more than $500,000 in...
To view the full article, register now.