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Old 07-06-2011, 09:09 PM
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Default Are Self-Dealing Parties Settling $242 Billion of Bank of America Liabilities for Way

A petition filed by some unhappy investors on Tuesday raises some serious challenges to the so-called Bank of America mortgage settlement. The embattled bank hopes to shed liability for alleged misrepresentations made by Countrywide on loans sold in 530 mortgage trusts with $424 billion in par value. We said it was a bad deal for investors because, among other things, it included a very broad ...
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