Countrywide program, ‘the Hustle,’ treated underwriting ‘as a joke’

By Inman News Feed
Add Comment Add Comment | Comments: 0 | Posted Oct. 24, 2013

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When Bank of America bought mortgage lender Countrywide in 2008, it thought “it had gobbled up a cash cow,” says U.S. Attorney Preet Bharara, but profits from the lender’s “High Speed Swim Lane” program (known inside the company as “the ...

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