Countrywide Spreads a little Christmas Cheer to 4,800 North Carolina Customers

Countrywide Settles Claim with 4,800 of Banks for 15.4MM

Raleigh, NC
Ricardo Cobos
Mortgage Banker

Countrywide Mortgage settled a claim today with the North Carolina Commisioners of Banks without admitting wrongdoing. The claim alledged that the California lender had overcharged mostly First Time Home Buyers who obtained Home Equity Lines and charged fees that were disallowed in North Carolina.

By Countrwides Estimates, 4,800 North Carolina borrowers will share in the 11.5MM, another 2MM will go to homebuyer education classes and another 900m to the Nationwide Mortrgage Licensing System to help states improve the regulation of mortgage lenders.