Thursday, July 12, 2007

Countrywide sued for racial bias in mortgage loans

(Reuters) - NEW YORK, July 12 - Four black homeowners sued Countrywide Financial Corp. on Thursday, accusing the largest U.S. mortgage lender of racial discrimination in its lending practices.



The Massachusetts homeowners accused Countrywide and several affiliates of marking up interest rates or tacking on fees after agreeing to lend based on objective criteria such as credit histories or the values of homes.


Read more at Reuters.com Bonds News

No comments: