Investors Sue Countrywide to Compel Repurchase of Modified Mortgages
December 5, 2008
Institutional investors are suing to force Countrywide Financial Corp. to repurchase mortgage loans it had securitized and sold to trusts before the loans are modified under a settlement agreement with state attorneys general. The class-action lawsuit was filed this week in the New York Supreme Court by the law firm Grais & Ellsworth on behalf of Greenwich Financial Services Distressed...