Volume 14 - Number 18
September 5, 2014
BofA Appeals Judge’s Order to Pay $1.27B for ‘Hustle’ of GSEs
Bank of America this week launched an appeal to overturn a jury verdict that found it liable for thousands of bad mortgages sold by Countrywide leading to a $1.27 billion judgment. U.S. District Court Judge Jed Rakoff levied the judgment in July after a New York jury last fall found the Charlotte, NC-based bank liable for fraud over a Countrywide program known in the industry as “the Hustle.”
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