Suit Against Countrywide Reinstated

November 2009
American Banker;11/2/2009, Vol. 174 Issue 198, p8
Trade Publication
The article discusses a U.S. federal appeals court decision to reinstate a lawsuit against Countrywide Financial Corp. The lawsuit, originally filed in 2006, was based upon an allegation that Countrywide violated the Real Estate Settlement Procedures Act (RESPA) by using a mortgage reinsurance kickback scheme. Although a trial court dismissed the case in 2008 based upon a ruling of lack of court jurisdiction, the U.S. Court of Appeals for the Third Circuit ruled that the case could go forward.


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