In a federal class action, foreclosed homeowners sued Fannie Mae, Freddie Mac and other "leading providers of residential real estate mortgages," claiming their disregard for underwriting standards caused the mortgage meltdown, which brought more than 930,000 foreclosure filings in the third quarter of 2010 alone.
IndyMac Bank and Countrywide Financial are among the host of mortgage originators named in the 101-page complaint, which seeks damages for the 11 named plaintiffs whose "credit ratings and histories were damaged or destroyed."
Read the rest at Courthouse News Service
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