Florida's attorney general on Tuesday filed a lawsuit against Countrywide Financial Corp. for engaging in "deceptive and unfair trade practices."

The suit says Countrywide, one of the nation's largest mortgage companies, knowingly put Florida borrowers into mortgages they couldn't afford or into loans with rates and penalties that were "misleading."

"It is unthinkable that a company would try to take advantage of someone's dream of homeownership," Florida Attorney General Bill McCollum said in a news release. "Florida homeowners who are trying to protect their homes from foreclosures shouldn't have to worry about their mortgage brokers or lenders unfairly profiting at their expense."

The 12-page suit also named Countrywide's chief executive, Angelo R. Mozilo, as a defendant. The California-based lender did not immediately return a call for comment on the suit.

A large number of homeowners who took out these loans are now in foreclosure, the release said. Florida has the second-highest number of foreclosure filings in the nation, according to California-based RealtyTrac.

The lawsuit says Countrywide hid negative effects of "teaser" loans, including rising rates, prepayment penalties and negative amortization. Countrywide paid greater compensation to brokers for loans with higher interest rates and prepayment penalties, the suit said, because it could sell those loans for higher prices on the secondary market.

Countrywide stood out among other lenders in the volume of complaints filed by consumers, said Sandi Copes, spokeswoman for the attorney general's office. In the past year, she said, more than 150 Floridians have complained about mortgages they obtained through Countrywide.

The suit seeks unspecified damages. Copes said the company could be charged up to $10,000 for each violation, and that the number of violations has not been determined. Copes said she is not aware of ongoing investigations into similar companies.

Illinois and California sued Countrywide last week, also accusing the company of persuading homeowners to apply for risky mortgages far beyond their means. Washington Gov. Chris Gregoire has accused Countrywide of cheating the state out of $5 million by underreporting assessments.

Bank of America completed its purchase of Countrywide on Tuesday, making the Charlotte, N.C.-based bank the nation's leading mortgage originator and servicer.

In Florida, the attorney general's office continues to build its case and encourages any Countrywide customers who are suspicious of their mortgage to call the fraud hot line at   1-866-966-7226  or file a complaint online at www.myfloridalegal.com.

Information from The Associated Press was used in this report. Reporter Shannon Behnken can be reached at (813) 259-7804 or sbehnken@tampatrib.com.