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Loan Modification

: Mortgage Lender Implode-o-Meter

Insurers Sue Banks for Mortgage Losses

By Implode-Explode Heavy Industries

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"Bond insurers, who guaranteed loan payments for mortgage-backed asset pools of home equity lines and loans, are seeking billions of dollars from Bank of America because of loans made by Countrywide, which BofA purchased in 2007. Other targets for lawsuits filed by MBIA include GMAC, Residential Funding Corp. and the FDIC, because of loans made by now defunct IndyMac Bank."

Full post as published by Mortgage Lender Implode-o-Meter on May 24, 2010 (boomark / email).

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