Ex-Countrywide Exec Denies Cheating Fannie And Freddie

Law360, New York (October 15, 2013, 7:03 PM EDT) -- A former Countrywide Financial Corp. executive denied having schemed to rip off Freddie Mac and Fannie Mae through a program designed to speed mortgage issuing, as she testified Tuesday for the first time in the government's fraud trial in New York district court.

Rebecca Mairone, a former chief operations officer at a division of Bank of America Corp.'s subsidiary Countrywide, told jurors she never intended the High-Speed Swim Lane program to produce bad loans and never schemed to unload those loans on Freddie and Fannie....
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Case Information

Case Title

United States of America ex rel. Edward O'Donnell

Case Number



New York Southern

Nature of Suit

Banks and Banking


Jed S. Rakoff

Date Filed

February 24, 2012

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