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Ambac Settles With Bank of America for $1.84 Billion; Shares Soar

By Dean Seal


Ambac Financial Group Inc. and Bank of America Corp. have resolved longstanding litigation related to residential mortgage-backed securities with a $1.84 billion settlement,. | October 9, 2022 ....

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

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 practices, the insurer's counsel told a Manhattan judge on the first day of a long-awaited trial Wednesday. ....

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