(credit: AP)

Federal Lawsuit Seeks $1 Billion From Bank Of America For Mortgage Fraud

The latest federal lawsuit over alleged mortgage fraud paints an unflattering picture of a doomed lender: Executives at Countrywide Financial urged workers to churn out loans, accepted fudged applications and tried to hide ballooning defaults.


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Calif. Settles Predatory Lending Lawsuit Against Countrywide

The state of California has settled a predatory lending lawsuit against former Countrywide Financial Corp. CEO Angelo Mozilo and President David Sambol.

CBS13/CW31 Television–02/02/2011