Countrywide Wants Judge To Boot Insurers' MBS Claims

Law360, Los Angeles (June 13, 2012, 9:41 PM EDT) -- Countrywide Financial Corp. asked a California federal judge Wednesday to dismiss allegations in multidistrict litigation that it misled two insurer investors by failing to properly transfer title to properties backing up hundreds of millions in toxic mortgage-backed securities.

Attorneys for Countrywide, former CEO Angelo Mozilo and Countrywide-buyer Bank of America Corp. asked U.S. District Judge Mariana R. Pfaelzer to dismiss twin lawsuits brought by National Integrity Life Insurance Co. and Western & Southern Life Insurance Co., saying allegations remaining after she dismissed Securities Act of 1933...
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