Ambac Rips Countrywide RMBS 'Factory' As $2.7B Trial Starts

By Rachel Scharf · September 7, 2022, 8:03 PM EDT

Countrywide Home Loans Inc. put Ambac Assurance Corp. on the hook for $2.7 billion by secretly churning out shoddy residential mortgage-backed securities in the "worst of the worst" of pre-2008 loan...

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