Litigation
Sep. 15, 2011
Countrywide fails to limit plaintiffs in home loan case
A San Jose federal judge ruled Monday that Countrywide Home Loans Inc. can't narrow a putative class action against it by trying to prevent a name plaintiff from representing all 168,000 of the prospective class members.
Daily Journal Staff Writer
Bank of America-owned Countrywide Home Loans Inc. failed to convince a San Jose federal judge to significantly narrow a proposed class action against it.
The lawsuit, filed on behalf of 168,000 homebuyers, accuses the mortgage lender of defrauding borrowers with option adjustable-rate mortgage loans.
Countrywide, which was purchased by Bank of America Corp. in 2008, had hoped to shrink the s...
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