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from Local Attorney, Michael H. Wasserman

Friday, December 14, 2007

Countrywide Financial under investigation in Illinois

According to this morning's Belleville News-Democrat, Attorney General Lisa Madigan has launched an investigation into Countrywide's business practices. Other lenders may be next as the probe continues.

The inquiry focuses on why people who appear to us to not be able to afford the loans they're in were able to get those loans and how Countrywide, the nations biggest mortgage lender may have contributed to that.

The AG is looking at how loans were originated, funded and sold "all the way up the line."

stay tuned for details!