Judge Approves $100M Settlement For Claims Over Countrywide ARM Loans

Judge Approves $100M Settlement For Claims Over Countrywide ARM Loans

SAN JOSE, Calif. - A federal judge in California on Sept. 19 entered final approval of a $100 million settlement to resolve claims that Mortgage Investors Group Inc. (MIG) and Countrywide Home Loans Inc. violated California's unfair competition law when providing allegedly deceptive loan documents to borrowers who obtained adjustable-rate mortgage (ARM) loans from the lenders (Jay Ralston, et al. v. Mortgage Investors Group Inc., et al., No. 08-cv-00536-JF, N.D. Calif.; 2013 U.S. Dist. LEXIS 134960).

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