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Items Tagged with 'Countrywide'

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Countrywide whistleblower will receive $57 million

Edward O’Donnell to get part of record Bank of America settlement
The whistleblower at the center of the so-called "Hustle" case against Bank of America over Countrywide mortgage loans will also receive a hefty payout for his participation in the record $16.65 billion settlement between BofA and the U.S. Department of Justice to resolve claims over toxic mortgage-backed securities on residential mortgage loans sold to Fannie Mae and Freddie Mac.
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Massive subprime mortgage bond portfolio ready to trade

Interested in subprime bonds? More than $2.4 billion is available now
According to bond analytics firm Interactive Data, the $4.6 billion portfolio of vintage debt is the largest of 2014, surpassing the January liquidation of the ING US portfolio from the Dutch State Treasury Agency, which checked in at $4.3 billion.
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Looming layoffs at Bank of America signal shift in mortgage servicing

Impact already being felt throughout industry
The impact of Bank of America's $16.65 billion settlement is beginning to be seen in the mortgage industry. The settlement will affect more than just the bank, the aggrieved homeowners and the government. It isn’t just the big banks that feel the pain of these settlements. It affects everyone.
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$1 billion in subprime mortgage bonds just exchanged hands

Package featured bonds from Countrywide, Bear Stearns, others
Per Interactive Data, $885 million of the $998 million in available debt was subprime mortgages issed by Countrywide and others. The remaining debt was made up of $73 million in bonds backed Alt-A fixed-rate mortgages and $40 million in Alt-A adjustable-rate mortgages.
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$478 million in subprime-boom bonds to hit market

Part of $727 million package scheduled to trade Tuesday
Now, $477.8 million more in subprime debt is available, and at least two of the biggest names in subprime are represented. According to Interactive Data, bonds from both Countrywide and Bear Stearns are part of this package.
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