Bank of America Corp. was sued by the trustee of a $1.75 billion mortgage pool, in an action that seeks to force the bank to buy back the underlying loans because of alleged misrepresentations in how they were made, Reuters reported.

The lawsuit by U.S. Bank is the latest attempt to recover investor losses tied to mortgage loans issued by Countrywide Financial Corp., which Bank of America bought in 2008.

In a complaint filed in a New York state court in Manhattan, U.S. Bank said Countrywide, which issued the 4,484 loans in the HarborView Mortgage Loan Trust 2005-10, materially breached its obligations by systematically misrepresenting the quality of its underwriting and loan documentation.

Soon after the loans were sold to the trust, they “began to become delinquent and default at a startling rate,” the complaint said. Out of a sample of 786 of the loans, 520, or 66 percent, breached one or more representations, according to the lawsuit.

U.S. Bank said it demanded that Bank of America fix the breaches or buy back the loans as it had agreed to do, but that it has refused and offered no reason for this refusal.

The lawsuit demands that the bank repurchase all the loans in the pool, or at least those it knows have problems and are hurting investors in the trust.

Bank of America paid $2.5 billion to buy Countrywide, but write-downs and legal costs have pushed the estimated cost of that purchase to more than $30 billion, Reuters said.