Category Archives: lawsuits
Countrywide Complaint Against A.I.G. Subsidiary United Guaranty Now Available
Earlier this week, I posted the complaint filed by A.I.G. subsidiary United Guaranty Mortgage Indemnity Co. (UG) in federal court in Los Angeles. The Subprime Shakeout has now obtained the complaint that started this battle of mortgage industry titans, filed … Continue reading
A.I.G. (United Guaranty) v. Countrywide Complaint Now Available
The complaint filed in federal court in Los Angeles by United Guaranty Mortgage Indemnity Co., the mortgage insurer subsidiary of A.I.G., against Countrywide Financial Corp., Countrywide Home Loans, Inc. and the Bank of New York Trust Company is posted below. … Continue reading
A.I.G. and Countrywide Go Head-to-Head Over Mortgage Insurance Coverage
The battle of the titans has begun. As reported by Reuters on Friday, both A.I.G. and Countrywide have now sued one another over who will bear the losses on a $1 billion pool of subprime mortgage loans. Countrywide fired the … Continue reading
Pennsylvania Joins Countrywide Settlement, But Where Is the Money Coming From?
Pennsylvania Attorney General Tom Corbett, whose office spent several months investigating deceptive mortgage practices alleged against Countrywide and its affiliates, has announced that Pennsylvania has joined the $8 billion settlement announced in October with Attorneys General from now over thirty … Continue reading
Navigant Publishes Press Release on Subprime Litigation Study
Navigant Consulting has put out a press release with respect to its latest study, entitled Third Quarter 2008 Update: Breaking New Ground, which details the unprecedented rise in subprime mortgage-related litigation. Besides the eye-popping statistics showing the exponential rise in … Continue reading
