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Loan Modification
: Mortgage Lender Implode-o-MeterLawsuit claims fraud by Bank of America mortgage unit
By Implode-Explode Heavy Industries
"A new allegation claims Bank of America's Countrywide mortgage operation committed "massive fraud" in a lawsuit by big investors who say they were misled about the quality of mortgage-backed securities.
A dozen institutional investors, including TIAA-CREF Life Insurance Co. and New York Life Insurance Co., filed the complaint Jan. 24 in New York state Supreme Court, according to Bloomberg News."
Full post as published by Mortgage Lender Implode-o-Meter on January 26, 2011 (boomark / email).
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