mortgage-backed securities

  • Investors request “shroud of secrecy” lifted in BofA’s $8.5 B settlement

    Another page was written in the epic drama surrounding Bank of America Corp. and its seemingly endless legal trouble this year. A lawyer representing American International Group Inc. told U.S. District Court Judge William Pauley in New York Wednesday that investors want the “shroud of secrecy” lifted over the proposed $8.5...

  • Federal court to review BofA’s proposed $8.5 billion settlement

    Beleaguered Bank of America Corp. (BofA) just received confirmation that its legal troubles are far from over.

  • BofA asks judge to toss AIG’s counsel from $10 billion case

    Life for Bank of America (BofA) continues to be a struggle. The latest drama is currently unfolding in a New York courtroom as the beleaguered bank spars with equally bedraggled American International Group Inc. (AIG) over a massive, $10 billion lawsuit.

  • BofA to consider Countrywide bankruptcy

    The scent of blood is in the water. As the sharks continue to circle, Bank of America (BofA) reportedly is considering taking drastic steps to protect itself from the tsunami of lawsuits continually flooding the company in the wake of the Countrywide Financial Corp. takeover.

  • Former Lehman affiliate objects to possible $90 million insurance release

    The fallout from the financial crisis continues to unfold in courtrooms across the country. The latest drama surrounds a now-defunct Lehman Brothers’ affiliate and former company officials who continue to wage war in court over multiple lawsuits.

  • BofA sat on knowledge of AIG lawsuit for 7 months

    The seemingly endless saga of companies suing Bank of America Corp. (BofA) over losses related to mortgage-backed securities took another turn yesterday as reports surfaced that the bank knew as early as January that American International Group Inc. (AIG) intended to sue the company for $10 billion—a full seven months...

  • Goldman Sachs now under gun from mortgage lawsuits

    Perhaps feeling left out thanks to Bank of America (BofA) to getting all of the ink lately devoted to mortgage-backed securities lawsuits, Goldman Sachs Group yesterday grabbed a few headlines of its own.

  • BofA seeking shield from further suits

    Just days after news broke that Bank of America (BofA) is facing a new lawsuit from 15 former Countrywide Financial Corp. investors that lost money during the housing collapse comes word that the company is now looking to the government for help shielding itself from further litigation.

  • BofA still bleeding from Countrywide conundrum

    Things continue to worsen for Bank of America (BofA). After hoping to quell the disquiet from former Countrywide Financial Corp. investors that lost money during the housing collapse with an $8.5-billion settlement last month, BofA is facing a new suit from 15 plaintiffs that believe the agreement is unfair.

  • Bank of America closing on $8.5 billion settlement

    Dominoes from the U.S. housing collapse continue to fall. Coming just a week after reports surfaced that Bank of America Corp. (BofA) faced lawsuits from union and public employee retirement funds due to losses on mortgage-backed securities, BofA yesterday announced it has agreed to pay $8.5 billion to settle claims...

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