US seeks $864M from BofA over Countrywide loans
FILE - In this Jan. 25, 2009 file photo, a Bank of America branch office is shown in New York. The U.S. government urged that Bank of America Corp pay $863.6 million in damages after a federal jury found it liable for fraud over defective mortgages sold by its Countrywide unit. In a filing late Friday, Nov. 8, 2013, in the U.S. District Court in Manhattan, the government also asked for penalties against Rebecca Mairone, a former midlevel executive at the bank's Countrywide unit who the jury also found liable, "commensurate with her ability to pay." Bank of America and Mairone were each found liable for defrauding government-controlled mortgage companies Fannie Mae and Freddie Mac through the sale of shoddy loans purchased from Countrywide in 2007 and 2008. (AP Photo/Mark Lennihan, file)
Posted: Sunday, November 10, 2013 12:00 am
Sunday, November 10, 2013 12:00 am.