Countrywide, Pittsburgh Ch. 13 Bankruptcy Trustee Submit New Settlement Proposal In Legal Action Alleging Abusive Loan Servicing Practices

In Pittsburgh, Pennsylvania, Reuters reports:

• Countrywide Financial Corp and a U.S. bankruptcy trustee have submitted a new proposal to convince a federal judge to resolve claims over alleged abusive practices by what was once the nation's largest mortgage lender. The proposed terms were filed on Wednesday with the U.S. Bankruptcy Court in the Western District of Pennsylvania, which is overseeing cases of nearly 300 Countrywide borrowers in foreclosure in that region.

For the details of the new proposed settlement, see Countrywide proposes new Pa. lending settlement.

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