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Borrowers seek class status in Countrywide appraisal lawsuit
August 29, 2017 / 11:29 PM / 3 months ago

Borrowers seek class status in Countrywide appraisal lawsuit

Homeowners accusing Bank of America’s Countrywide unit of using fraudulent appraisals to qualify them for mortgage loans in the years before the housing crisis have asked a federal court to certify their lawsuit as a class action.

Filed in 2013, the lawsuit seeks reimbursement of fees paid by home buyers for appraisals that allegedly violated industry standards and were manipulated to advance Countrywide’s mortgage loan business.

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