Entire Market Benefits from DOJ Settlement with Countrywide
Today's Department of Justice fair lending settlement with Countrywide Financial is welcome news in a housing market still reeling from the costs of rampant predatory lending. Countrywide was the largest of the rogue mortgage lenders that caused the current crisis. Regulators' lax lending rules and loose oversight allowed these bad practices to flourish. The DOJ settlement deals exclusively with Countrywide...