BofA Looks To Nix $600M Ambac Suit Over Countrywide RMBS

By Ben Conarck (February 27, 2015, 4:47 PM EST) -- Bank of America Corp. has moved to dismiss a $600 million lawsuit brought by bond insurer Ambac Assurance Corp. in New York state court over allegedly faulty residential mortgage-backed securities issued by Countrywide Financial Corp., slamming the suit as a "sophisticated monoline insurer's hindsight effort to shift blame for its own recklessness."...

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