The Southern District U.S. Attorney’s Office yesterday announced a civil mortgage fraud lawsuit against Bank of America Corp., accusing the company of defrauding government-backed Fannie Mae and Freddie Mac of more than $1 billion.
The complaint, unsealed in Manhattan federal court, accused Bank of America and Countrywide Financial Corp. of a “spectacularly brazen” scheme. According to the complaint, the so-called “Hustle” began in 2007, before the purchase of Countrywide in 2008 but continued through 2009.
