The lending giant bought by Bank of America in 2008 did not admit any guilt as it settled several investor lawsuits filed at the U.S. District Court in Los Angeles.

The lender agreed to pay $600 million, while accounting firm KPMG agreed to pay $24 million, The Los Angeles Times reported Tuesday.

The lawsuits claimed that Countrywide, with the backing of KPMG audits, failed to disclose how precarious the firm's finances were as the housing market boom turned to a nationwide bust two years ago.

In a statement, Bank of America spokeswoman Shirley Norton, "We agreed to the settlement to avoid the additional expense and uncertainty associated with continued litigation."

The settlement is subject to court approval, but Judge Mariana Pfaelzer has indicated the deal would be approved.

Beyond the Los Angeles suits, Countrywide still faces other investor lawsuits filed elsewhere, the Times reported.