Countrywide Settles Case Accusing It Of Abusive Practices In Almost 300 Mortgage Loans Overseen By Pittsburgh Bankruptcy Court

In Pittsburgh, Pennsylvania, The New York Times reports:

• Countrywide Home Loans has agreed to pay $325,000 to the Chapter 13 bankruptcy trustee in Pittsburgh, settling a case that accused the lender of abusive practices in almost 300 mortgage loans overseen by the court.

• The settlement, which has been filed with the court and must be approved by the federal judge overseeing it, arose out of motions filed last October by Ronda J. Winnecour, the chapter 13 trustee for the district of Western Pennsylvania. Saying that the company had lost or destroyed more than $500,000 in checks paid by homeowners in foreclosure from December 2005 to April 2007, Ms. Winnecour asked the bankruptcy court to sanction Countrywide, the nation’s largest loan servicer.

For more, see Countrywide Settles Lending Suit in Pennsylvania.

Go here for other posts on the Countrywide matter in the Pittsburgh federal bankruptcy court.