Saturday, October 26, 2013

Pay a fine, walk away



"Bank of America was found liable for fraud Wednesday for a program — dubbed "the Hustle" — that caused millions in losses to federally backed mortgage finance firms Fannie Mae and Freddie Mac amid fallout from the financial crisis.

The civil verdict by a Manhattan federal court jury similarly found the bank's Countrywide Financial unit found liable, and also determined that former Countrywide executive Rebecca Mairone committed fraud while overseeing the loan-origination program."



http://www.usatoday.com/story/money/business/2013/10/23/bank-of-america-countrywide-mortgage-fraud/3172797/

The problem here is they walk away and all the millions of people who lost there homes still have never been compensated.