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 Ameri…
Nope, Angelo Mozilo won’t be serving time, no matter what the evidence shows. In fact, he won’t even face a trial. Wondering how the most convictable CEO among the titans who brought down the financial system is getting off so …
Banks created the Mortgage Electronic Registration System to save themselves a boatload in fees by keeping mortgage transfers off the books of local governments. Now, a New York judge says the whole system violates state law, a…
Allstate is suing Bank of America and its Countrywide Financial division over Countrywide’s sale of $700 million in mortgage-backed securities to the insurance giant, alleging that Countrywide knew in advance that the assets wo…
Wilmington Trust shares plummeted 44% in morning trading Monday as the struggling East coast institution announced M&T Bank would acquire the company in a stock transaction valued at $351 million.
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