Florida Gets In Line To Sue Countrywide

     FORT LAUDERDALE (CN) – Florida has joined the long list of plaintiffs accusing Countrywide Financial and CEO Angelo Mozilo of deceptive trade, filing false financial SEC reports, misrepresenting its underwriting criteria for loans, falsifying loan documents, violating its own alleged standards to issue sub-prime mortgage loans, misrepresenting the terms of the loans to customers, and rewarding its employees with bonuses for issuing loans regardless of borrowers’ ability to pay.

     The state demands $10,000 fines for each violation of Florida’s deceptive trade laws, in Broward County Court.

%d bloggers like this: