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Allstate sues BofA, Mozilo over Countrywide losses

2:10pm EST

By Jonathan Stempel


NEW YORK (Reuters) - Allstate Corp has sued Bank of America Corp and 18 other defendants over alleged losses on more than $700 million of mortgage securities it bought from Countrywide Financial Corp.

The largest publicly-traded U.S. home and auto insurer alleged it suffered "significant losses" after Countrywide misled it into believing the securities were safe, and that the quality of residential home loans backing them was high.

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Foreclosure Help

Florida AG investigates two companies delivering foreclosure court papers


Sun Sentinel 12-16-10

Two companies that deliver foreclosure notices to homeowners are under investigation over complaints including filing questionable statements with courts, back-dating documents and billing practices.

Published in Feature Headlines