Posted on 16-08-2007
Filed Under (Mortgage) by admin

Countrywide Financial has had a federal lawsuit filed and are trying to get it turned into a Class Action Lawsuit against Countrywide Financial for violating federal housing discrimination laws by requiring black homeowners to pay higher fees to the network of agents that generate Countrywide’s new customers.

The Countrywide Financial lawsuit was filed US Court in Boston in behalf of African American borrowers.

The lawsuit claims Countrywide and its subprime subsidiary, Full Spectrum Lending Inc., charged black customers more for subprime mortgages than it charged white borrowers in similar financial situations.

According to Full Spectrum Lending Inc website:

Countrywide Home Loans’ Full Spectrum® Lending Division can help you get the money you need fast. Countrywide’s Full Spectrum Lending Division puts the expertise, resources and technology of the nation’s largest independent residential mortgage lender to work for you.

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Comments

karole on 10 March, 2008 at 2:12 pm #

how do i file a class action against country wide. they have been nothing but trouble since going with them. they do help in any way they return checks even if person is trying and put house for foreclouser without any written noticiactions
have left mother and children homeless even though she tried her best.
Never a cal back only sent payments backs stating not exceptable.


Glenda Reagan on 30 May, 2008 at 11:42 am #

We were given false information about our loan with Countrywide before closing. This has resulted in having to file bankruptcy, my business has failed and I am now going thru a divorce. How can I join in a class action lawsuit against Countrywide?


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