Countrywide, AIG Insurer End Subprime Policy Spat

Law360, New York (September 13, 2010, 3:06 PM EDT) -- Countrywide Financial Corp. has settled a breach of contract suit brought by an American International Group Inc. mortgage insurer in a feud over policies for subprime mortgage loans.

Judge Mariana R. Pfaelzer of the U.S. District Court for the Central District of California signed an order Friday to dismiss the suit with prejudice, with both Countrywide and plaintiff United Guaranty Mortgage Indemnity Co. agreeing to drop their claims and pay their own attorneys' fees.

Further details of the settlement were not available. An attorney for Countrywide...
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