Bank of America is facing new litigation from investors who want the nation’s largest bank to buy back the mortgages backing their bonds. The legal dispute stems from loans made by BofA’s Countrywide Financial unit that allegedly violate the representations and warranties clause of the mortgage-backed securities, according to the lawsuit filed in New York State Supreme Court in Manhattan.
Bank of America sued by investors over mortgage bonds
Most Popular Articles
Latest Articles
Rocket delivers $291M profit amid improved margins and MSR acquisitions
The Detroit-based lender reported a GAAP net income of $291 million from January to March, its highest profit level in two years.