Relevant:
- Bank of America liable for Countrywide "Hustle" mortgages fraud
- U.S. seeks $864 million from Bank of America after fraud verdict
- DeMarco's days may be numbered and yet he takes a swat at BofA
- Bank of America Sued for Alleged Countrywide "Hustle" Loans
- The Oddest Revelation From the Bank of America Fraud Suit
2013-09-24 — reuters.com
``Filed in October, the lawsuit blames the bank for losses suffered by Fannie Mae and Freddie Mac on thousands of prime mortgages that later defaulted. Fannie and Freddie, government-sponsored enterprises that underwrite mortgages, were taken over by the government in 2008.
The Justice Department says the loans were pushed out through a Countrywide program called the "High Speed Swim Lane" - also called "HSSL" or "Hustle" - that began in 2007 amid rising mortgage delinquency and default rates and as Fannie and Freddie were tightening underwriting guidelines.''
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