As the last day of hearings on the $8.5 billion Countrywide settlement closed without a conclusion, analysts warned investors’ wait for payouts could be much longer than until November when the trial will resume to hear one remaining key witness.

Closing arguments on whether Bank of America’s Countrywide unit committed fraud against government-sponsored entities selling roughly $1 billion in questionable mortgage loans will be presented in mid-November after the testimony of Georgetown law professor Adam Levitin suggesting the trial could be completed by Nov. 20 or 21, according to a Barclays report.

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