BofA’s (BAC) Countrywide Unit Ordered to Pay $1.3 Billion: Report

Bank of America’s Countrywide unit has been ordered to pay a total of $1.3 billion in penalties for defective mortgage loans it sold to Fannie Mae and Freddie Mac in the run-up to the 2008 financial crisis, Bloomberg News reports. U.S. District Judge Jed Rakoff in Manhattan issued the civil penalty against the Charlotte, North […] View the full post at: BofA’s (BAC) Countrywide Unit Ordered to Pay $1.3 Billion: Report Related posts: Countrywide Probe Shows Signs of Life Barclays Downgrades GE Unit Debt Bank of America Earns $4.2 Billion in Q1’09