Nice timing, Obama.
U.S. sues BofA over alleged mortgage fraud - Bottom Line
The United States filed a civil mortgage fraud lawsuit against Bank of America, accusing it of selling thousands of toxic home loans to Fannie Mae and Freddie Mac that went into default and caused more than $1 billion of losses.
Wednesday's case, originally brought by a whistleblower, is the U.S. Department of Justice's first civil fraud lawsuit over mortgage loans sold to Fannie Mae or Freddie Mac.
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4 years later. "time to do something about that pesky Mortgage Fraud."
Right before election time. Go figure.
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