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Corporate

Mar. 12, 2011

Countrywide Fighting Home-Loan Lawsuit

Bank of America Corp.-owned Countrywide Home Loans Inc. is trying to whittle down a potentially massive Northern District class action involving option-adjustable rate mortgages.


By Rebecca Beyer


Daily Journal Staff Writer


SAN FRANCISCO - Attorneys for Countrywide Home Loans Inc., who successfully fought off several lawsuits claiming their client misled borrowers about the terms of option adjustable-rate mortgages, will try to persuade a federal judge today to whittle down a potentially massive class action.


The loans at the heart of the lawsuit attracted borrowers with initial interest rates as low as 1 percent befor...

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