Bank of America to Pay $1.84B To Settle Crisis-Era Countrywide Case

National Mortgage News, Oct. 7, 2022–Polo Rocha (subscription)
Ambac, which provided insurance policies for Countrywide’s securities, alleged the mortgage lender misrepresented the quality of the loans it was making in the runup to the crisis. The insurer sought to put Bank of America on the hook for payments it had to make for mortgage loans that went under.