Moody's Investors Service analysts said they don't believe Countrywide, now part of Bank of America Corp., routinely failed to transfer mortgage notes to trusts when the lender securitized loans.

In a Dec. 9 report David Fanger, a Moody's senior vice president, and Yehudah Forster, a vice president and senior analyst, weighed in on the Kemp v. Countrywide bankruptcy case, which caused a small uproar last month when it emerged that a Countrywide employee and its lawyer both said in court that the company routinely held on to promissory notes. (B of A took over Countrywide in 2008.)

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