Ambac sues BofA over faulty mortgage bonds

Bank of America Corp. has moved to dismiss a $600 million lawsuit brought by bond insurer Ambac Assurance Corp. in New York state court over allegedly faulty residential mortgage-backed securities.

Ambac Assurance is part of Ambac Financial Group Inc. The lawsuit shows how Charlotte, North Carolina-based Bank of America might still face legal liability over shoddy mortgage practices predating.

MBA urges FHA to adopt QM safe harbor  · The ABA was among a group of 17 trade associations and organizations, including the MBA, that wrote to the CFPB two months ago seeking a grace period for enforcement of the TRID rule. Sure enough, this week 8,500 Realtors and guests descended on Washington DC.

JPMorgan Chase & Co. agreed to pay $995 million to resolve claims by Ambac Financial Group Inc. that it was duped into insuring mortgage bonds backed by shoddy. Ambac has brought against Bank of.

Law360, New York (November 16, 2015, 8:32 PM EST) — Attorneys for a Bank of America Corp. unit on Monday asked a New York judge to throw out a $600 million lawsuit brought by bond insurer Ambac.

Ambac sues Bank of America over Countrywide mortgage bonds. On Dec. 23, the New York-based company said Co-Chairman Nader Tavakoli would become interim chief executive officer on Jan. 1. He will replace Diana Adams, who is resigning "by mutual agreement" with the board after 3-1/2 years as CEO, Ambac said.

Ambac Sues Bank of America over Faulty Mortgage Bonds Insurance firm ambac assurance corp. filed suit against BofA Dec. 30 in an effort to recover hundreds of millions of dollars it lost during the financial crisis from insuring approximately $1.68 billion of securities backed, in part, by risky mortgages issued by Countrywide, Reuters reported Dec. 31.

Ambac Assurance is part of Ambac Financial Group Inc . The lawsuit shows how Charlotte, North Carolina-based Bank of America might still face legal liability over shoddy mortgage practices predating the 2008 financial crisis, even after agreeing in August with federal and state authorities to pay a record $16.65 billion penalty to settle civil.

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Ambac Assurance is part of Ambac Financial Group Inc. The lawsuit shows how Charlotte, North Carolina-based Bank of America might still face legal liability over shoddy mortgage practices.

Law360, New York (January 2, 2015, 1:34 PM EST) — Bond insurer Ambac Assurance Corp. has sued Bank of America Corp. seeking to recover approximately $600 million it has either paid out or expects to.

Bank of America Corp. has hit the headlines again with Ambac pulling itself out from the litigation over BofA’s projected $8.5 billion mortgage bond settlement for Countrywide.

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