Wall Street Journal (07/17/08) P. A12
A home buyer has filed a lawsuit in U.S. District Court in San Francisco against KB Home and Countrywide Financial for a joint venture that offered mortgages to KB home buyers. The plaintiff's attorney, Peter Fredman, alleges that the joint venture was a "sham" to sidestep the Real Estate Settlement Procedures Act, employing a Countywide-owned appraiser and pricing information from KB.
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