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Items Tagged with 'Countrywide'

ARTICLES

BofA, DOJ settlement negotiations remain tangled

Two sides remain far apart on crucial issues
July 31, 2014
Bank of America continues to work through its negation talks with the Department of Justice. However, the two still stand very far apart on crucial issues.
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Judge orders BofA Countrywide to pay $1.3B for toxic mortgages

Settlement is just over half what feds wanted
July 30, 2014
A federal judge has ordered Bank of America’s Countrywide unit to pay $1.3 billion in penalties for junk mortgages sold to the government sponsored enterprises in the years prior to the 2008 financial crisis.
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DOJ demands more in BofA, Countrywide deal

Deal hung up over penalties
July 29, 2014
The Department of Justice is not satisfied with its negotiations over Bank of America's cash penalty amount for the dealings of Countrywide and Merrill Lynch. The $13 billion is not enough.
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Bank of America faces massive $13 billion RMBS claim

Bloomberg cites coming DoJ settlement
April 25, 2014
The settlement would come on top of the $9.5 billion the bank agreed last month to pay to resolve Federal Housing Finance Agency claims, said two people who asked not to be named because the negotiations are private.
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Bondholders hope Countrywide settlement will pay up

Could award $8.5 billion in recoveries to affected bonds
March 3, 2014

Bondholders and investors are taking a closer look at the recently approved Countrywide Settlement that could potentially distribute $8.5 billion in recoveries to affected bonds.


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AIG demands stay in $8.5 billion Bank of America ruling

Ruling leaves too much unclear, objectors say
February 5, 2014

American International Group and others joining a number of companies asking a New York state supreme court judge to delay the approval of an $8.5 billion agreement between Bank of America and mortgage bond investors.


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Bank of America down in mid-day trading

Equity investors lose confidence as fast as they gain it
January 7, 2014
Bank of America gained investor confidence and then lost it within days. The bank soared on the HW 30 at the start of January and is now backsliding again.
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BofA-Countrywide settles legacy mortgage case for $500M

December 9, 2013
Bank of America finally secured a court's approval to end a legacy lawsuit filed against it by investors in Countrywide mortgages for $500 million. The investors claimed they were sold faulty mortgage-backed securities prior to the meltdown of the housing market.
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Bank of New York Mellon: $8.5bn settlement an 'easy decision'

November 19, 2013
As closing arguments finished yesterday in a two-year long legal battle involving mortgage-bond investors and Bank of America Corp. (BAC), the attorney for Bank of New York Mellon Corp (BK) offered a final view on a contentious settlement.
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BlackRock, PIMCO set to push for BofA mortgage deal

November 18, 2013
Closing arguments begin today from an investor group including BlackRock Inc. (BLK) and Pacific Investment Management Co. over a proposed $8.5 billion settlement with Bank of America (BAC) involving legacy Countrywide mortgage bonds.
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