January 16, 2014
The Federal Deposit Insurance Corporation on Wednesday said it will appeal to the Ninth Circuit Bank of America Corp.'s $500 million settlement of class actions over Countrywide Financial Corp.'s underwriting standards for mortgage-backed securities.
December 09, 2013
A California federal judge gave final approval Friday to a $500 million settlement of three class actions challenging Bank of America Corp.-owned Countrywide Financial Corp.'s underwriting standards for mortgage-backed securities, including $85 million in fees to the plaintiffs' attorneys.
October 28, 2013
A California federal judge on Monday tentatively gave approval to Bank of America Corp. unit Countrywide's $500 million settlement of three class actions related to mortgage-backed securities, overruling the Federal Deposit Insurance Corp.'s objections that the deal was not fair to all class members.
October 08, 2013
The Federal Deposit Insurance Corp. told a California federal court Monday that Bank of America Corp.'s $500 million settlement in a suit over its underwriting standards for mortgage-backed securities should be thrown out because the proposed class representatives have a conflict of interest.
August 01, 2013
A California federal judge said Thursday she will preliminarily approve a $500 million settlement of three putative class actions challenging Bank of America Corp.-owned Countrywide Financial Corp.'s underwriting standards for mortgage-backed securities, noting new details allayed her concerns about how the settlement will be divided.
July 10, 2013
A California federal judge Wednesday refused to give preliminary approval to a $500 million settlement of three putative class actions challenging Countrywide Financial Corp.'s underwriting standards for mortgage-backed securities, saying she needed more information on how the settlement would be divided among investors.
July 08, 2013
Attorneys representing plaintiffs in three California class actions launched by purchasers of mortgage-backed securities issued by Countrywide Financial Corp. told a California federal judge Monday that they would seek $85 million in attorneys' fees from a $500 million deal, the biggest settlement of MBS class claims to date.
April 17, 2013
Bank of America Corp. on Wednesday announced the $500 million settlement of three California class actions launched by purchasers of mortgage-backed securities issued by Countrywide Financial Corp., the largest settlement of MBS class claims to date.
March 13, 2013
Countrywide Financial Corp. urged a California federal judge Wednesday to throw out a proposed class action alleging the company misled buyers of $272 million in mortgage-backed securities, arguing that pensions and individual investors lack standing because they can't prove they bought the ill-fated securities from Countrywide.
August 24, 2012
Countrywide Financial Corp. on Friday urged a California judge to keep in federal court a proposed class action alleging the company misled buyers of ill-fated mortgage-backed securities, arguing the complaint is tied to the recent bankruptcies of loan originators Residential Funding Company LLC and GMAC Mortgage LLC.