Shadow Inventory To Peak in Summer of 2010: Barclays And for the first time since the summer of 2010, the National Index actually nosed ahead of the year-earlier quarter’s reading, if only by 1.2%.. The "shadow inventory" of residences that are.

Bank Of America Found Liable For Countrywide’s "Hustle" Scam. The DOJ will seek a penalty of up to $848.2 million, the gross amount of loss seen by Freddie and Fannie on these loans. The feds had originally sought triple damages under the false claims act, alleging that Countrywide made fraudulent claims for payment to government officials,

The Mortgage Meltdown NEW YORK ( — Bank of America came to the rescue of embattled mortgage lender Countrywide Financial Corp. Friday, announcing it would buy the company for $4 billion in an all-stock deal.

NEW YORK (CNNMoney) — The Justice Department announced a. rose about 1% to $5.21 after Wednesday’s announcement. Bank of America purchased leading mortgage lender countrywide in 2008 for $4.

 · After months of lowball offers, Bank of America caved in and agreed to the largest federal settlement in the history of corporate America, reports the New York Times. The tentative deal.

The biggest news to come out of Tuesday’s ongoing hearing to evaluate Bank of America’s proposed .5 billion settlement with investors in 530 Countrywide. Justice Barbara Kapnick. “But it wasn’t.

Bank of America was far more conservative in its lending–trying to steer clear of risky loans and questionable borrowers. So now Countrywide falls under the BofA model.

90-Day Moratorium for California The 90 day moratorium applies ONLY if: The loan in default is in first position (a first, not a second) The loan was recorded between January 1, 2003 and January 1, 2008 . The borrower occupied the home as their principal residence at the time the loan became delinquent . The loan servicer has not implemented a "comprehensive loan modification.Final 4Q GDP estimate comes in below expectations Forecasts Anticipate Another Solid Rise For U.S. Q4 GDP Growth.. based on seven recent estimates (see chart below). This projection marks a modest improvement over the solid 3.0% gain in Q3 and.

The consolidated city-county government priced the deal Thursday after a retail order period Wednesday. It consists of $610 million of bonds for the long-anticipated justice center. MMD’s daily.

People familiar with the talks say they are in the early stages and expect the sides to meet a few more times before a deal is reached. Officials at Bank of America and Justice declined. 2.5.

Bank of America and the US Justice Department are close to a deal. issued by Countrywide. Bank of America, Countrywide and Merrill Lynch together issued $US965bn of mortgage-backed securities to.

NAR: Buyer traffic up 29% from a year ago Existing home sales bounced back last month and drew close to an eight-year high as moderating price increases coaxed prospective buyers to close deals, the National Association of Realtors. in.

Attorney General Eric Holder and Associate Attorney General Tony West announced today that the Department of Justice has reached a $16.65 billion settlement with Bank of America Corporation – the largest civil settlement with a single entity in American history – to resolve federal and state claims against Bank of America and its former and current subsidiaries, including Countrywide Financial Corporation and Merrill Lynch.