A former executive of Bank of America Corp.’s Countrywide unit testified she wasn’t part of a scheme to defraud Fannie Mae and Freddie Mac (FMCC) by selling them thousands of defective loans. The U.S. sued Bank of America in October, joining a whistle-blower action filed by another former Countrywide executive, Edward O’Donnell.
via Ex-Countrywide Executive Denies Scheme to Mislead Buyers – Bloomberg.
