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Home » Store » Securitization » BofA Faces Stiff Penalty for Single Foreclosure

BofA Faces Stiff Penalty for Single Foreclosure

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Securitization

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A U.S. bankruptcy fudge slapped Bank of America with $45.0 million in punitive damages last week for its handling of a mortgage foreclosure. “Franz Kafka lives,” Judge Christopher Klein wrote in his opinion, citing the author known for writing about complex or illogical situations. “This case reveals that he works at Bank of America.” The lawsuit, Sundquist v. BofA, centers on a jumbo mortgage originated in 2008 by a broker and acquired by Countrywide Home Loans ...
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