With its vast array of subprime loan offerings during the real estate boom, Countrywide Financial came to symbolize just how risky the mortgage business got during those heady times. Now that the bubble has burst, Countrywide has adopted a more conservative posture — at least when it comes to how it handles the lawsuits stemming from those risky loans.
According to an article in sibling publication The Am Law Litigation Daily, over the past two months Countrywide has reached record-setting settlements in two such cases for a combined total of more than $700 million.
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