Skip to content
Subscriber Only

BofA’s Countrywide Found Liable for Defrauding Fannie Mae

Bank of America Corp.’s Countrywide unit was found liable for defrauding Fannie Mae and Freddie Mac by selling them thousands of defective loans.

A federal jury in New York today also found former Countrywide executive Rebecca Mairone liable for defrauding the U.S. Mairone was the only individual named as a defendant in the government’s lawsuit.