Countrywide Whistleblower Gets $57M In Bank Of America Case

Federal prosecutors have agreed to give former Countrywide Financial Corp. executive Edward O’Donnell $57 million for shining a light on Bank of America, leading to the bank settling mortgage fraud charges for more than $16 billion. O’Donnell told regulators that Bank of America had submitted false documents about loan underwriting and quality control to Fannie Mae and Freddie Mac. O’Donnell filed a whistleblower lawsuit after learning the bank was in settlement discussions with federal authorities..