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FTC Settles $108M Lawsuit With Countrywide Mortgage Loan Services

WASHINGTON, D.C. - (Mealey's) In what the Federal Trade Commission is calling one of the "largest judgments imposed in an FTC case, and the largest mortgage servicing case," two Countrywide mortgage servicing companies will pay $108 million to settle charges filed by the FTC alleging that...

U.S. Supreme Court Denies Certiorari In Bankruptcy Escrow Case

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Nov. 14 declined to hear a bankruptcy case in which a lender had contended that it did not violate the automatic stay in bankruptcy when it exercised its rights under the Real Estate Settlement Procedures Act and reanalyzed a debtor couple's...

Parties To Countrywide Mortgage-Backed Securities Lawsuit Suit Settle For $500 Million

In what is the largest settlement so far of an mortgage-backed securities class action lawsuit filed as part of the subprime and credit-crisis securities litigation wave, the parties to the consolidated Countrywide mortgage-backed securities suit pending in the Central District of California have agreed...