repurchase

Investor Lawsuits Are Raising the Heat on Bank of America for 'Putbacks'

When Countrywide Financial created deeply flawed mortgage-backed securities, it wasn't just selling bad financial products: It was breaking its contracts. Now some ordinary investors are suing Countrywide's buyer, Bank of America, to force it to repurchase those bad mortgages. That's their right, but there's nothing simple about this case, or its ramifications.