Judge Pumps Atty Over Discovery In MBIA, Countrywide Case

Law360, New York (February 9, 2012, 7:01 PM EST) -- A New York state judge on Thursday grilled an attorney for a firm that evaluated mortgages Bank of America Corp.'s Countrywide unit pooled into securities, questioning why insurer MBIA's informal questioning of the firm's ex-contractors should not be allowed to proceed.

MBIA, which says it lost billions of dollars insuring those securities, has been conducting informal, predeposition interviews of former contractors at so-called due diligence firms such as Clayton Holdings LLC. These due diligence firms helped Countrywide — now a division of Bank of America —...
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