INDUSTRY NOTES: DOJ Wants To Give Countrywide's $335 Million To Subprime Loan Victims
Tuesday, January 17, 2012 01:26 am
Finding victims could take years, DOJ says.
The U.S. Department of Justice just settled with Bank of America Corp.'s Countrywide unit for $335 million. Now they need help finding " and compensating " the company's victims.
Countrywide was one of the most heinous offenders in the housing market crises that caused more than 10,000 families to lose their homes thanks to faulty subprime loans, forcing a large number into assisted housing or homelessness after inevitable foreclosure. The DOJ wants to use Countrywide's penalty to help those families get back on thei......
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