Quality Home Loans, CountryWide Settle Over Loans

Law360, New York (September 26, 2007, 12:00 AM EDT) -- Bankrupt lender Quality Home Loans has asked the bankruptcy court to approve a settlement agreement with Countrywide Home Loans Inc. over mortgage loans purchased by Countrywide before Quality filed for Chap. 11.

The settlement agreement, filed Tuesday in the U.S. Bankruptcy Court for the Central District of California, was reached by the two parties after Countrywide filed a motion seeking relief from the automatic stay earlier this month.

Before it filed for bankruptcy, hard money lender Quality would frequently sell pools of loans to the highest...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.