Countrywide to Pay $500 Million Settlement 1245

Premises liability is another area of San-Diego-Personal-Injury-attorney.com

Countrywide, a unit of Bank of America Corp., has agreed to settle a class action suit in Los Angeles over residential mortgage-backed securities for $500 million. San-Diego-Auto-Accident-lawyer.com The suit was led by the Iowa Public Retirement System and sought damages for “downgraded Countrywide mortgage-backed securities after the 2007 subprime collapse.” The Los Angeles settlement will not affect the distributions for the previously settled $8.5 million between Bank of America and “institutional investors in Countrywide mortgage-backed securities.” San Diego personal injury attorney

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