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WASHINGTON — Mortgage lender Countrywide Financial Corp., which is under investigation for inflating certain borrowers’ fees, acknowledged Tuesday it has made errors and pledged to take steps to improve its operations.
Steve Bailey, chief executive for loan administration at Countrywide, told a Senate panel that the company’s loan officers have made mistakes “from time to time.” But he disputed accusations, made by hundreds of borrowers in Pennsylvania, Florida and other states, that the company has sought to collect inflated fees and other payments by filing inaccurate bankruptcy documents.
