Bank of America's Countrywide to pay $1.3bn to US

Bank of America's Countrywide business must pay the US government $1.3bn (£769m) for selling defective home loans, a New York judge has ruled. Countrywide was found guilty of selling bad loans, as part of a programme called "hustle", to US mortgage giants Fannie Mae and Freddie Mac in 2007. via Pocket http://ift.tt/1rH9AEc