Investments

BofA: AIG can’t sue over devalued mortgage bonds

Bank of America (BAC) lawyers asked a federal judge to dismiss American International Group (AIG) fraud claims over devalued Countrywide Financial mortgage-backed securities it had to sell as part of the government bailout.

U.S. District Judge Mariana Pfaelzer, at a hearing today in Los Angeles, didn’t rule on Bank of America’s request.

The bank, which acquired Countrywide in 2008, argued that AIG transferred the right to sue over the securities when it sold them as part of a $21 billion transaction to an entity created by the Federal Reserve Bank of New York.

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Spouse of Quicken Loans executive sues AIME’s Anthony Casa for defamation

Theresa Niemiec, wife of Quicken Loans Executive Vice President Austin Niemiec, has filed a defamation lawsuit against Anthony Casa, CEO of the Association of Independent Mortgage Experts, for comments he made about her in a video message that he filmed and sent to her husband and others in the mortgage industry.

Jul 12, 2020 By
3d rendering of a row of luxury townhouses along a street

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