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Countrywide to pay $335 million over bias case

WASHINGTON (Reuters)  –  Bank of America Corp’s Countrywide Financial unit agreed upon Wednesday to pay for a record $335 million to civil charges who’s discriminated against minority homebuyers, an historic settlement to the National government in the wake in the sub prime mortgage morass. Since the financial and housing crisis deepened in 2008, Bank of America bought Countrywide, which focused on so-called sub prime mortgages, centering on loans to prospects with lower credit ratings and charging them higher rates and payments that suddenly increased after two or three years. The…

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