NEW YORK (Reuters) - A federal judge on Wednesday ordered Bank of America Corp to pay a $1.27 billion penalty for fraud over shoddy mortgages sold by the former Countrywide Financial Corp .
NEW YORK, July 30 (Reuters) - A federal judge on Wednesday ordered Bank of America Corp to pay a $1.27 billion penalty for fraud over shoddy mortgages sold by the former Countrywide Financial Corp .
America's management has done little to cover itself in glory during the past five years. The acquisitions of Merrill Lynch and Countrywide in 2008 resulted in a bailout of the bank, and legal liabilities resulting from past deals are still eating
industry took their bite out of Countrywide Financial 's CFC first-quarter results. Nevertheless ..... believe these issues will weigh on Countrywide over the long term, however ..... bright spots in the quarter, as Countrywide increased its mortgage servicing
trading at roughly 80% of Morningstar analysts' fair value estimates. Additionally, analyst Justin Fuller thinks Countrywide CFC and Washington Mutual WM are high-quality companies unfairly thrown on the trash heap of subprime lenders. Both
Bancorp BBX CapitalSource CSE Countrywide Financial CFC Darwin Professional Underwriters ..... Analyst Report: CapitalSource Countrywide Financial (Note: This stock has fallen ..... Like other mortgage bankers, Countrywide CFC books large gains by originating
BAC] Bank of America. They paid too much for Countrywide , paid too much for Merrill , and in addition to that, they were saddled ..... a ton of liabilities related to mistakes that Countrywide , especially, had made in the years leading
took the fatal step of acquiring subprime lender Countrywide Financial in 2008, right before the bottom dropped out. What ..... will take $20.6 billion in charges to pay for the Countrywide mess and other problems. Just think what financial
of America’s troubles began when it purchased Countrywide Financial , a large mortgage banker, for $4 billion in 2008 ..... of legacy mortgage loans that were originated by Countrywide during the period 2004-2008. The non-performance of
While Bank of America still may be able to force its Countrywide Financial entity into bankruptcy, thereby insulating itself from lawsuits associated with Countrywide 's underwriting, we doubt that this maneuver would