Class Cert. Granted In BofA, Countrywide Appraisal Suit

A California federal judge has certified a nationwide class of borrowers accusing Countrywide Financial Corp. of using inflated real estate appraisals to juice its loan origination business during the mid-2000s, turning back arguments from the company and its successor Bank of America that the borrowers won’t be able to back up their racketeering claims with common proof.

The class certified by U.S. District Judge Christina A. Snyder on Tuesday covers borrowers who received an appraisal from LandSafe Inc. between 2003 and the end of 2008 in...

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