Countrywide Gets Mortgage Pool Contract Suit Pared

Law360, Chicago (May 24, 2013, 1:45 PM EDT) -- A Washington federal judge on Thursday trimmed Washington Federal's suit accusing Countrywide Home Loans Inc. of breaching a mortgage loan purchase and servicing agreement and then refusing to buy back the loans when the alleged breaches were revealed, finding their relationship lacked the required fiduciary characteristics.

U.S. District Judge Ricardo S. Martinez granted a motion by Countrywide and its parent Bank of America Corp. to dismiss Washington Federal's claims for breach of the implied covenant of good faith and fair dealing and breach of fiduciary duty...
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