Judge orders Bank of America to pay $1.2B for Countrywide’s sale of faulty loans
By EsqSocial Corporation 31/07/14
A federal judge in Manhattan has ordered Bank of America to pay $1.2 billion in civil penalties for defective mortgages sold to Fannie Mae and Freddie Mac. U.S. District Judge Jed Rakoff ordered the payment in a Wednesday decision after a federal jury determined that Bank of America’s Countrywide unit…