The verdict found the bank liable for selling dubious loans to Fannie Mae and Freddie Mac prior to the financial crisis. The decision led to a $1.27 billion penalty.
The bank's arguments for throwing out the verdict "defy the evidence, the law, and common sense," the government said in a court filing Thursday night. "Evidence of defendants' fraud was abundant."
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The U.S. Department of Justice said in the filing that evidence at the trial proved Bank of America's Countrywide division lied to the two mortgage companies, both controlled by the government, about the quality of the sold loans, and that Countrywide focused on speed and volume rather than quality.
The filing also accused former Countrywide official Rebecca Mairone of attempting to obscure evidence that showed she sold the loans even though she knew they were questionable. Mairone is trying to reverse a liability verdict against her. U.S. District Judge Jed Rakoff in Manhattan ordered her, the only individual charged in the case, to pay $1 million.
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