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Real Estate/Development

Mar. 16, 2011

Countrywide Plaintiff Class May Balloon

Countrywide Home Loans Inc. must produce documents related to 160,000 option adjustable-rate mortgages in litigation in which plaintiffs claim the bank concealed the nature of the loans from borrowers.


By Rebecca Beyer


Daily Journal Staff Writer


SAN FRANCISCO - A federal judge gave the green light to plaintiffs trying to obtain documents from a raft of loans financed by Countrywide Home Loans Inc. The plaintiffs are trying to prove claims that the company engaged in a scheme to defraud borrowers with the terms of option adjustable-rate mortgage loans.


U.S. District Judge Jeremy D. Fogel ruled that Countrywide must turn over documents related...

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