Maine State Retirement System v. Countrywide Financial Corp.
District Court, C.D. California
1Opinion of the Court
ORDER RE: MOTIONS TO DISMISS AMENDED CLASS ACTION CONSOLIDATED COMPLAINT
MARIANA R. PFAELZER, District Judge.
I. INTRODUCTION AND BACKGROUND
From 2005 to 2007, Countrywide was the nation’s largest residential mortgage lender. AC ¶ 4. During that period, Countrywide originated and purchased residential mortgages and home equity lines of credit (“HELOC”) through its subsidiary Countrywide Home Loans (“CHL”). Id. at ¶ 28. Between 2005 and 2007, CHL originated or purchased a total of approximately $1.4 trillion in mortgage loans. See Countrywide Fin. Corp.2007 SEC Form 10-K (filed Feb. 29, 2008) at…
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