Bank of America must face mortgage fraud trial, judge rules

BANK OF AMERICA Corp. will have to face a trial in September over mortgages that its Countrywide unit sold to Fannie Mae and Freddie Mac after U.S. District Court Judge Jed Rakoff rejected a request to dismiss the case. / BLOOMBERG FILE PHOTO/JIN LEE
BANK OF AMERICA Corp. will have to face a trial in September over mortgages that its Countrywide unit sold to Fannie Mae and Freddie Mac after U.S. District Court Judge Jed Rakoff rejected a request to dismiss the case. / BLOOMBERG FILE PHOTO/JIN LEE
NEW YORK - Bank of America Corp. must face a trial next month in a lawsuit alleging the bank’s Countrywide unit defrauded Fannie Mae and Freddie Mac by selling them billions of dollars in bad mortgages, a federal judge ruled. U.S. District Judge Jed Rakoff in Manhattan issued a ruling Tuesday rejecting the bank’s request…

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