May 12, 2020
Following a recent $250 million settlement that ended a consolidated class action accusing Bank of America, Countrywide Financial Corp. and others of participating in a fraudulent real estate appraisal scheme, the borrowers on Monday asked for $49 million in attorney fees.
February 19, 2020
Bank of America, Countrywide Financial Corp. and others will shell out $250 million to end consolidated class action litigation accusing them of participating in a fraudulent real estate appraisal scheme, according to the borrowers' Wednesday bid for initial court approval of the deal.
November 05, 2019
Bank of America Corp. has a tentative agreement to settle consolidated class action litigation from home mortgagors accusing it, Countrywide Financial Corp. and others of engaging in a fraudulent real estate appraisal scheme in the 2000s, a California federal court was told.
September 16, 2019
Bank of America has moved to derail class action litigation accusing it, Countrywide Financial Corp. and others of a mid-2000s fraudulent real estate appraisal scheme, telling a California federal judge that the case shouldn't be allowed to go forward to trial with its claims and classes intact.
March 28, 2018
A California federal judge has tapped the brakes on a class action accusing Countrywide Financial Corp. and others of a mid-2000s fraudulent real estate appraisal scheme, pausing part of the proceedings while Bank of America Corp. pursues an appeal of her class certification decision.
February 08, 2018
A California federal judge has certified a nationwide class of borrowers accusing Countrywide Financial Corp. of using inflated real estate appraisals to juice its loan origination business during the mid-2000s, turning back arguments from the company and its successor Bank of America that the borrowers won't be able to back up their racketeering claims with common proof.
March 13, 2017
A California federal judge on Monday tentatively rejected Bank of America and appraisal company LandSafe's bid to dismiss one of two consolidated putative class actions accusing them of conducting phony appraisals in an attempt to secure more loans, saying the suit appears to have been filed in time.