More On

Former Countrywide exec faces mortgage fraud allegations

Rebecca Mairone appeared in court to defend the financial company’s “hustle” program

Earlier this year, Bank of America Corp. (BofA) and mortgage-finance firm Fannie Mae finally buried the hatchet concerning the bank’s ill-fated purchase of Countrywide Financial Corp., settling out of court with multibillion dollar settlements that resulted in BofA buying back nearly $7 billion in bad loans.

However, just because the civil litigation between BofA and Fannie Mae was settled long ago does not mean that Countrywide is off the hook. Former Countrywide executive Rebecca Mairone took the stand in U.S. District Court in Manhattan on Oct. 15 in order to defend her former company from allegations of fraud.

Assistant Editor

author image

Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.