Bank of America sued by US Bancorp over mortgages

The lawsuits against Bank of America are piling up.

The latest comes from U.S. Bancorp, which wants Bank of America Corp. to repurchase poorly-written mortgages sold by Countrywide Financial in 2005.

Bank of America bought Countrywide Financial Corp. in 2008. Bank of America is based in Charlotte, N.C.

The lawsuit, which was filed in New York on Monday, claims Countrywide sold U.S. Bancorp a pool of over 4,000 loans originally valued at $1.75 billion. U.S. Bancorp claims Countrywide ignored its own mortgage underwriting guidelines when issuing those loans.

Bank of America's stock fell 26 cents, or 3 percent, to $8.13 at 1:30 p.m.

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