Judge Rakoff upheld the Self-Affecting Theory based on Countrywide having to settle repurchase claims to Fannie Mae and Freddie Mac resulting from the fraudulent HSSL
couldn't prove that the scheme to misrepresent the quality of its HSSL loans caused losses to Fannie Mae and Freddie Mac.
The government cannot show that any loss suffered by Fannie and Freddie in connection with the HSSL loans proximately resulted from a misrepresentation by Countrywide about the loans, as opposed to other factors such as the worldwide mortgage crisis," the bank said in court papers.
Countrywide earned at least $165 million using HSSL, allowing the company to maintain revenue in a "cratering" market for subprime mortgages, prosecutors told the jury in closing arguments.
The HSSL includes state-of-the-art glass-top touch- sensitive panels.
The HSSL is currently running three plant control models, with most development efforts focused on Shearon Harris Nuclear Plant in North Carolina, the first of many simulations for industry partner Duke Energy as the company begins digitizing its nuclear plants.
The Justice Department alleged that Countrywide danced around loan quality with HSSL
, which streamlined the underwriting process and paid loan officers on volume.
This assembly represents one of three groups participating in Phase l of this project, which will consist of demonstrating the capabilities of the hydrodynamic computational tools that will be used in the context of analyzing the hydrodynamic performance of a proposed concept for a HSSL
HSSL monitoring is just one of TTI Telecom's NWV-7 innovative features.
To that end, we are continuously enhancing our NWV-7 system and our HSSL monitoring abilities is a clear testament to our commitment.