Banking
Jul. 22, 2011
Californians to see bulk of Countrywide payouts
California will receive more checks from the Federal Trade Commission than any other state under a settlement with Countrywide Home Loans, Inc. over allegations that the lender collected excessive fees.
Daily Journal Staff Writer
More than 55,000 California homeowners will receive checks from the Federal Trade Commission under its settlement with Countrywide Home Loans, Inc. over allegations that the now-defunct mortgage lender collected excessive fees from borrowers struggling to avoid foreclosure.
The FTC announced Wednesday that it is finally mailing 450,177 refund checks collectively worth nearly $108 million to Countrywide...
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