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BofA's legal costs mount in Countrywide mortgage fiasco
http://www.latimes.com/business/la-fi-countrywide-bofa-20131227,0,618632.story
BofA's legal costs mount in Countrywide mortgage fiasco A jury found BofA liable in a case centered on a Countrywide program called "The Hustle," which churned out risky home loans before selling them to mortgage giants Fannie Mae and Freddie Mac. But whatever penalty the bank might pay, it will amount to a 

Current Mortgage Interest Rates: Bank of America Home Loans and Refinance ...
http://easternmorningherald.com/current-mortgage-interest-rates-bank-of-america-home-loans-and-refinance-mortgage-rates-for-january-24/1234184/
Current Mortgage Interest Rates: Bank of America Home Loans and Refinance ... Current Mortgage Interest Rates: Bank of America Home Loans and Refinance Mortgage Rates for January One of the largest mortgage loan lenders in the country, Bank of America (NYSE: BAC) has updated its mortgage rate information for today. Please 

Current Mortgage Rates: Bank of America Home Loans and Refinance Mortgage ...
http://southerndailypress.com/current-mortgage-rates-bank-of-america-home-loans-and-refinance-mortgage-rates-for-january-1-15898.html
Current Mortgage Rates: Bank of America Home Loans and Refinance Mortgage ... Current Mortgage Rates: Bank of America Home Loans and Refinance Mortgage Rates for January 1 Interest rates on Bank of America's (NYSE:BAC) home loans stayed firm this Wednesday whilst in the refinance loan arena we spotted some improvements.

Today's Mortgage Rates: Bank of America Home Loans and Refinance ...
http://easternmorningherald.com/todays-mortgage-rates-bank-of-america-home-loans-and-refinance-mortgage-rates-for-january-21/1234111/
Today's Mortgage Rates: Bank of America Home Loans and Refinance ... Today's Mortgage Rates: Bank of America Home Loans and Refinance Mortgage Rates for January 21 One of the largest mortgage loan lenders in the country, Bank of America (NYSE: BAC) has updated its mortgage rate information for today. The interest 

Countrywide Home Loans Short Sale

group4610shortsale.com - If you have an old Countrywide loan Do not let them take advantage of you in the short sale process. Give us a call If ...

A Review of 'Ambac Assurance Corp. v. Countrywide Home Loans' | New York Law Journal

Case on June 27. The court found that financial guaranty insurer Ambac Assurance Corporation will be required to prove both justifiable reliance and loss causation in its upcoming fraud trial against securities issuer Countrywide Home Loans.

Ambac successfully argued in the Commercial Division that, pursuant to Insurance Law Section 3105, it was exempt from having to prove reliance on Countrywide’s allegedly fraudulent statements and could recover all $2 billion of its insurance payments regardless of whether those payments resulted from the alleged fraud. The Court of Appeals rejected Ambac’s argument that Section 3105 alters the insurer-plaintiff’s burden of proving the traditional elements of a fraud claim, and further held that Ambac was limited to the repurchase protocol provided in the parties’ contracts as its exclusive remedy for breach of contract and could not recover attorney fees.

Ambac provided financial guaranty insurance to Countrywide with respect to 17 residential mortgage-backed securitizations that Countrywide issued to investors between 2004 and 2006.  The securitizations were backed by over 300,000 individual mortgage loans that Countrywide had either originated or acquired from other originators. Ambac’s policies were unconditional and irrevocable (which was a significant factor in the court’s decision) and guaranteed income streams to the investors if the underlying mortgage holders failed to make payments.

Angelo Mozilo and his doomed mortgage machine

Dangerous products

Under Mozilo, Countrywide pumped out complex mortgages to people who couldn't afford them — and often didn't understand them.

One product, an adjustable-rate mortgage known as a pay-option ARM, gave borrowers the option of making small payments in some months, or even skipping some payments altogether. Many borrowers ended up owing more than their houses were worth, resulting in countless foreclosures.

"The borrowers did not understand the risks involved with the mortgages. And Countrywide did not tell them," said Patricia McCoy, a professor at Boston College who studied Countrywide as part of a book she co-wrote called "The Subprime Virus."

Countrywide didn't worry much about what happened after the mortgage was signed because it packaged most of the loans together and shipped them off to Wall Street, a process known as securitization.

Countrywide sold or securitized 87% of the $1.5 trillion in mortgages it originated between 2002 and 2005, according to the final report by the Financial Crisis Inquiry Commission, a bipartisan federal committee charged with investigating the causes of the meltdown.

I need to get away from Countrywide Home Loans. Does anyone know a reputable Home Loan Co. in Austin Texas?

I am extremely nervous about having my home loan with Countrywide. I do not want them to come back and tell me that the modification they gave me is no longer valid. I have an ARM loan and am looking to refinance.


Wow, the sharks have come out to answer this one. I have worked for 10+ years in mortgage banking and it still amazes me the crap some people say to try and get someone's business. One answer above offered 4%......what a joke.

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