BUSINESS BRIEFING / LENDING
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Countrywide Financial Corp., the mortgage lender bought by Bank of America Corp., settled a lawsuit filed by New Jersey over claims the company made risky, unaffordable subprime mortgages.
The agreement requires Calabasas-based Countrywide to create a no-fee loan modification program and a $3.67-million foreclosure relief fund for homeowners and state programs to prevent foreclosures, New Jersey Gov. Jon Corzine said.
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