Countrywide Subpoenaed By Illinois Over Lending Practices
New York Times:
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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First Posted: 12-13-07 01:17 AM | Updated: 03-28-08 02:45 AM