Borrowers Seek $49M Atty Fees In BofA, Countrywide Case

Law360 (May 12, 2020, 6:49 PM EDT) -- Following a recent $250 million settlement that ended a consolidated class action accusing Bank of America, Countrywide Financial Corp. and others of participating in a fraudulent real estate appraisal scheme, the borrowers on Monday asked for $49 million in attorney fees.

In a 35-page motion, the borrowers said they faced "enormous financial and legal risk" in pursuing their nearly seven-year-old case that ended in a settlement in February, and asked the court to grant them more than $49 million, or about 19% of the settlement amount, in attorney fees and $2.3 million in expenses. The borrowers noted the amount is below...

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