Attorney General reaches agreement with Countrywide [1]
Via press release [2]:
Tennessee Attorney General Bob Cooper today announced a settlement with Countrywide, the nation’s largest mortgage lender and servicer, to resolve complaints of predatory lending. The Agreed Final Judgment, which Attorney General Cooper filed in court today on behalf of the Tennessee Division of Consumer Affairs, will provide for loan modification eligibility for an estimated 6,900 Tennessee borrowers and an estimated $4 million in other economic relief to troubled Tennessee borrowers.
“We are pleased that this agreement can bring relief to eligible Countrywide borrowers who are on the brink of losing their homes or to some who have already lost their homes,” said Attorney General Cooper. “We also hope this case will be a warning to those unscrupulous lenders who would mislead consumers into committing to loans they ultimately could not afford.”
Countrywide is currently in the process of identifying and notifying eligible consumers about loan modifications. Countywide consumers can also call Countrywide toll-free at (800) 669-6607 to find out now if they are potentially eligible for a loan modification or other programs.
For more information regarding the lawsuit and agreement click this link [3].
- Finance [4]
- Bank of America Corp. [5]
- Attorney General [6]
- Bob Cooper [7]
- borrowers [8]
- Countrywide Financial Corp. [9]
- mortgages [10]
- Governmental investigations [11]