LOS ANGELES — California Attorney General Jerry Brown filed a lawsuit against Countrywide Financial Corp. and two top executives today, accusing them of lowering or ignoring lending standards and deceiving borrowers regarding the risks of sub-prime mortgages and other adjustable-rate loans. Illinois Attorney General Lisa Madigan filed a similar suit against Countrywide today in Chicago state court.

“Defendants viewed borrowers as nothing more than the means for producing more loans, originating loans with little or no regard to borrowers' long-term ability to afford them and to sustain homeownership,” a draft of Brown's complaint says.

The California suit asks the court to order an end to the Calabasas, Calif.-based mortgage lender's alleged misleading and unfair practices, and demands restitution for victimized homeowners.

Countrywide chief executive Angelo Mozilo and President David Sambol were also named in the suit. The legal action comes at a bad time for Countrywide, which is awaiting voter approval of a takeover by Bank of America Corp.