San Diego's city attorney announced that a civil complaint was filed in San Diego Superior Court by his office's Consumer and Environmental Protection Unit against Countrywide Financial Corp. San Diego accuses Countrywide of engaging in a "pattern of unlawful, fraudulent or unfair predatory real estate lending practices." The alleged activities have left a number of the city's residents facing foreclosure. San Diego seeks civil penalties and injunctive relief that will prevent Countrywide from starting or proceeding with foreclosures on owner-occupied properties located in San Diego that secure ARMs with teaser rates made to subprime borrowers.
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