February 20th, 2012 
davidguide One of two defendants who have already pleaded guilty to defrauding Countrywide Home Loans on a $760,000 mortgage claims that because the loan was securitized, Countrywide didn’t face any losses. The strategy is intended to avoid a prison sentence. If the federal judge in the case agrees, the process of prosecuting mortgage fraud defendants — which already takes years — could become even more difficult and complicated. A decision is expected this week in the case. But filings tumbled 19 percent from January 2011.
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