{"id":35293,"date":"2012-10-25T14:40:17","date_gmt":"2012-10-25T14:40:17","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/la_times_feds_sue_bofa_for_1_billion_over_loans_sold_to_fannie_freddie\/"},"modified":"2012-10-25T14:40:17","modified_gmt":"2012-10-25T14:40:17","slug":"la_times_feds_sue_bofa_for_1_billion_over_loans_sold_to_fannie_freddie","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=35293","title":{"rendered":"(LA Times) Feds sue BofA for $1 billion over loans sold to Fannie, Freddie"},"content":{"rendered":"<p>The federal government has filed another mortgage-fraud lawsuit against Bank of America, contending that defective loans generated by the bank&#8217;s Countrywide Financial Corp. subsidiary caused mortgage finance giants Fannie Mae and Freddie Mac to lose more than $1 billion.<\/p>\n<p>A statement Wednesday from the office of U.S. Atty. Preet Bharara in New York said that after the subprime mortgage market collapsed in 2007, Calabasas-based Countrywide devised a loan-processing system called &#8220;Hustle&#8221; to &#8220;process loans at high speed and without quality checkpoints.&#8221;<\/p>\n<p><a href=\"http:\/\/www.latimes.com\/business\/money\/la-fi-mo-feds-sue-bofa-20121024,0,6070685.story\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The federal government has filed another mortgage-fraud lawsuit against Bank of America, contending that defective loans generated by the bank&#8217;s Countrywide Financial Corp. subsidiary caused mortgage finance giants Fannie Mae and Freddie Mac to lose more than $1 billion. A<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=35293\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,40,589,149,600,114,585,596,584],"tags":[],"class_list":["post-35293","post","type-post","status-publish","format-standard","hentry","category-culture-watch","category-economics-politics","category-corporationscorporate-life","category-economy","category-housingreal-estate-market","category-law-legal-issues","category-the-banking-systemsector","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/35293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35293"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/35293\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}