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By Reuters |
April 13, 2012
A New York judge has ruled that Bank of America CEO Brian Moynihan must testify in a lawsuit brought by bond insurer MBIA Inc. which claims the bank fraudulently induced it to insure risky mortgage-backed securities.
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By Mark E. Ruquet, PropertyCasualty360.com |
January 5, 2012
Bond-insurer MBIA Insurance Corp. won a significant victory in New York Supreme Court against Countrywide Home Loans when a judge ruled that MBIA only needs to show misrepresentation by Countrywide, rather than directly linking those misrepresentations to financial securitization losses.
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By Jonathan Stempel (Reuters) |
October 25, 2011
A judge threw out federal securities-law claims in Allstate Corp's fraud lawsuit against Bank of America Corp's Countrywide unit over $700 million of toxic mortgage debt, but said the insurer may pursue state law claims.
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By Staff Writer |
November 9, 2010
The bank faces lawsuit over $1.2B Hudson deal.
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By Mark E. Ruquet, PropertyCasualty360.com |
September 30, 2010
Ambac has sued Bank of America over the lending practices of Countrywide, the mortgage lending business the bank bought, saying the lender failed to follow its own standards when making loans.