Reversal of Countrywide Verdict

Reversal of Countrywide Verdict

  “When the story of the lack of prosecutions from the financial crisis is finally written, the most important issue will be how difficult it turned out to be to prove fraud” The New York Times.   Shoddy mortgage practices were largely to blame for the Great Recession of 2007-2009.  One of the key players identified in contributing to the housing bubble and financial crisis is Countrywide, a mortgage lender acquired by Bank of America in 2008. Countrywide was running a program known as the High-Speed Swim Lane, or “hustle” which resulted in mortgages that did not meet the requirements...Read more