Thursday, July 3, 2008

State of Florida Sues Countrywide

New York Times (07/01/08) P. C8
Countrywide Financial is being sued by the state of Florida over allegations of making mortgage loans based on deceptive trade practices. The Florida attorney general's office also names CEO Angelo Mozilo as a defendant in the lawsuit, which was filed in state court in Broward County. A spokesman for Bank of America, which plans to acquire the Calabasas, Calif.-based mortgage lender in July, declined to comment on the lawsuit. California and Illinois sued Countrywide in late June.

No comments: