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A Tale of Two Loan Modifications, As Investors Sue Countrywide

 · I have a Countrywide loan, sold to Bank of America, then servicing rights sold to Nationstar. According to the MERS website, HSBC is the "investor," though I assume that actually means "trustee for the investors." I am pretty sure my loan was securitized by Deutsche bank. They bundled many of the trusts originated by Countrywide.

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The bank has also conceded that it originated risky mortgage loans and made. That relief will take various forms, including principal reduction loan modifications that result in. Countrywide also concealed from RMBS investors its use of. conducted a two-year investigation into whether Bank of America.

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Bank of America has been found liable for fraud for the sale of faulty loans by its mortgage unit, Countrywide Financial Corp. The Calabasas based Countrywide made large profits churning out risky home loans that were later rendered worthless during the 2008 housing crisis.

 · The consumer relief is not cash but rather credit that Bank of America will receive for arranging mortgage loan modifications and refinancings, among other activities. Funds will.

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The family sought a modification, at which time a Bank of America representative. Ours is a long story starting in 2009 we bought in 2007.. My disability was hampering me from going up two sets of steps in our townhome.. I believe our mortgage paperwork may be part of the BofA Countrywide debacle.

 · A predatory-lending settlement that will see Countrywide modify as many as 400,000 loans, reducing payments due on mortgages it services by as much as $8.4 billion, has led a.

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mortgage investors), is the extent to which simple delinquency requirements. two monthly mortgage payments (e.g., the Bank of America/Countrywide. default rates among Countrywide loans targeted by the settlement (subprime first. In June 2008, attorneys general in California and illinois sued countrywide, alleg-.

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