Maybe the judges in New York understand the corruption of the Rehypothecation! And the failure to disclose!
A federal judge in Manhattan said a $1.27 billion fine against Bank of America over an old mortgage-lending program known as Hustle should stick.
Former Countrywide executive Edward O’Donnell filed a whistleblower lawsuit that accused Countrywide of defrauding government-backed mortgage finance companies Fannie Mae and Freddie Mac.
In 2014, O-Donnell received $57 million by reporting Countrywide them loans that were not as good as the company represented them to be.
The case became known as the “Hustle” case due to the Countrywide process through which the loans were sold, which was technically referred to as HSSL.