Industry NewsMortgage

States settle over Countrywide lending

Subprime settlement likely to be largest ever
Published on Oct 6, 2008

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

California's attorney general today announced a multibillion-dollar settlement over alleged unfair and deceptive lending practices by Countrywide Financial Corp. -- the company was acquired by Bank of America earlier this year.

The settlement is expected to allow hundreds of thousands of eligible borrowers to obtain more affordable loans and avoid foreclosure.