Scandal, Intrigue in the Housing Crisis: Countrywide under investigation
Federal authorities have opened a criminal inquiry into Countrywide Financial for suspected securities fraud as part of the continuing fallout over the mortgage crisis.
The Countrywide inquiry follows a broader investigation by the FBI into 14 companies as part of a review of the practices of the mortgage industry.
Countrywide already faces federal and state investigations of its lending practices, as well as several lawsuits by investors and mortgage holders.
The U.S. Securities and Exchange Commission is conducting about three dozen civil investigations into how subprime loans were made and how securities were valued
The Countrywide inquiry follows a broader investigation by the FBI into 14 companies as part of a review of the practices of the mortgage industry.
Countrywide already faces federal and state investigations of its lending practices, as well as several lawsuits by investors and mortgage holders.
The U.S. Securities and Exchange Commission is conducting about three dozen civil investigations into how subprime loans were made and how securities were valued
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