Big Countrywide inquiry

The mortgage giant has kept insisting that just because a few of its borrowers were taken advantage of doesn't mean that the company scammed all its customers. Well, a federal judge isn't convinced. He authorized an examination of the mortgage processing systems. Judge Thomas P. Agresti of the Federal Bankruptcy Court in Pittsburgh dismissed Countrywide’s protests that authorizing an investigation by the Office of the United States Trustee would lead to a “free-for-all.” He said an inquiry was warranted because there is a “a common thread of potential wrongdoing” in several bankruptcy filings. From Dow Jones/AP:

Judge Agresti is presiding over 293 bankruptcy cases that involve accusations of misconduct by Countrywide. The accusations include claims that the lender slapped improper fees on bankrupt homeowners, refused to cash checks from court officials and violated court orders. Countrywide has also been accused in one case of fabricating documents.