Jury finds BofA's Countrywide liable for fraud

A federal jury in Manhattan on Wednesday found that Bank of America's Countrywide unit is liable for defrauding Fannie Mae and Freddie Mac by selling them defective mortgages in its "hustle" program. Former Countrywide executive Rebecca Mairone was individually found liable for defrauding the U.S. The penalty is expected to be determined in December. Bank of America said it may appeal the ruling.

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