JPML Sends Countrywide MBS Suits To Calif.

Law360, New York (August 15, 2011, 9:48 PM EDT) -- The U.S. Judicial Panel on Multidistrict Litigation on Monday consolidated in California federal court eight actions against Bank of America Corp. unit Countrywide Financial Corp. over low-quality mortgage-backed securities.

The panel decided that each case against Countrywide involved common questions of fact over allegations that the mortgage lender misrepresented to investors the quality of loans, originated between 2004 and 2007, behind the securities they bought.

BofA's request to put all the actions in the Central District of California before U.S. District Judge Mariana R. Pfaelzer was...
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