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Investor Lawsuits Are Raising the Heat on Bank of America for ‘Putbacks’

by Abigail Field on Feb.24, 2011, under Towing

When Countrywide Financial created deeply flawed mortgage-backed securities, it wasn’t just selling bad financial products: It was breaking its contracts. Now some ordinary investors are suing Countrywide’s buyer, Bank of America, to force it to repurchase those bad mortgages. That’s their right, but there’s nothing simple about this case, or its ramifications.

Continue reading Investor Lawsuits Are Raising the Heat on Bank of America for ‘Putbacks’

Investor Lawsuits Are Raising the Heat on Bank of America for ‘Putbacks’ originally appeared on DailyFinance on Thu, 24 Feb 2011 16:30:00.

Filed Under: Retirement, Company News, Columns, Economy, Bank of America, Real Estate, Credit, Investment

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