Industry NewsMortgage

Probe of Countrywide servicing practices moves forward

U.S. Trustee claims bankrupt debtors' payments weren't credited
Published on Apr 3, 2008

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by CareyBot

A federal bankruptcy judge has ruled that Countrywide Financial Corp. must cooperate with a Justice Department investigation into allegations that the lender failed to properly credit mortgage payments received from bankrupt borrowers, overestimated what they owed, and made unfounded demands for payment.