Feds Sue Bank of America For Over $1 Billion

Bank Of America Mortgage Fraud: Feds Sue For Over $1 Billion Alleging Multi-Year Scheme

Federal prosecutors sued Bank of America for $1 billion on Wednesday, alleging that the bank’s former Countrywide unit concocted a mortgage scheme it called the “Hustle” in order to sell thousands of fraudulent and otherwise defective mortgage loans to Fannie Mae and Freddie Mac.

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http://www.huffingtonpost.com/2012/10/24/bank-of-america-mortgage-fraud_n_2009791.html

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