Countrywide Subpoenaed By Illinois Over Lending Practices

New York Times   |  GRETCHEN MORGENSON   |   December 13, 2007 01:17 AM

Read More: Countrywide Financial, Countrywide Financial Lending, Illinois, Illinois Attorney General, Lisa Madigan, Subprime Mortgages, Breaking Business News
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The Illinois attorney general is investigating the home loan unit of Countrywide Financial as part of the state's expanding inquiry into dubious lending practices that have trapped borrowers in high-cost mortgages they can no longer afford.

Lisa Madigan, the attorney general, has subpoenaed documents from Countrywide relating to its loan origination practices, a person briefed on the matter said. Rick Simon, a Countrywide spokesman, said the company was cooperating with the investigation but declined to comment further.

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