Ore. Attorney General Ellen Rosenblum, left. (AP/Don Ryan)

Salem, Ore. (AP) — State officials say Oregon will get part of a proposed national settlement of litigation against a major mortgage lender.

The state said its public pension fund lost $29 million because of the dealings of Countrywide Financial Corp. and its financial underwriters.

In a press release, Treasurer Ted Wheeler and Attorney General Ellen Rosenblum said they hope in negotiations to do better than the typical settlement in class-action securities cases: 10 cents on the dollar.

Pension funds alleged that Countrywide and financial underwriters misled investors into buying risky mortgage-backed securities.

Bank of America Corp. will pay the settlement, whose proposed total is $500 million. It acquired Countrywide in 2008.

See also: 

Oregon: Democratic pension cuts on fast track

Kill your 401(k), conservative author says

Wilshire: 94% of pension plans underfunded