Category Archives: Countrywide

Bank of America Still Ruing Its Purchase Of Countrywide, Merrill Lynch

Those two buys set Bank of America back tens of billions of dollars. Its stock holders must be screaming. Might’ve been the right move for the United States of America but these were not the right moves for Bank of … Continue reading

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‘The Foreclosure of America: The Inside Story of the Rise and Fall of Countrywide Home Loans, the Mortgage Crisis, and the Default of the American Dream’

I heard this author — Adam Michaelson — on the Dennis Prager show a few weeks ago. His book gives the human angle on Countrywide and the mortgage meltdown. Adam writes that he wants to dispel myths; that Countrywide and … Continue reading

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The Two Trillion Dollar Meltdown

I am reading the 2008 book by Charles Morris, “The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash.” He is publishing in February 2009 a revised paperback edition called “The Two Trillion Dollar Meltdown.” I can’t … Continue reading

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Government Pushing To Modify Mortgages

The Los Angeles Times reports on Countrywide. Consumer advocates like Countryside’s new mortgage modification program. They say it is an example of what to do. An important legislator wants other lenders to follow suit. Report: Previous attempts to modify home … Continue reading

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Countrywide CEO’s Accidental Email

Report: Apparently Angelo Mozilo, the CEO of Countrywide, has never made a mistake and needed help (from, say, Bank of America,) because he thinks that homeowners who are desperately trying to refinance out of their disastrous home loans and avoid … Continue reading

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An $8.7 Billion Settlement With Countrywide

From Suntimes.com: Illinois Attorney General Lisa Madigan’s office helped resolve a lawsuit that alleged Countrywide put people into loans, mostly subprime loans, that the would-be homeowners could not afford. HERE’S WHY: Wall Street figured out it could lap up cash … Continue reading

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Countrywide Extends A Helping Hand

From Courant.com: Connecticut’s housing market could get a lift under a settlement with one of the nation’s largest mortgage lenders that could allow thousands of residents facing foreclosure to stay in their homes. Countrywide Financial Corp., now owned by Bank … Continue reading

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States Reach Deal With Countrywide

From SFgate.com: The pact stems from cases filed earlier this year by California and other states, alleging Countrywide, based in Calabasas (Los Angeles County), used misleading advertising and unfair business practices to dupe customers into taking out home loans they … Continue reading

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Avoiding Foreclosure With Help From Countrywide

Report from Texas: The plan could make it easier to refinance for people who owe more on their loans than their home. A homeowner who bought a house for $300,000 that is now worth $200,000, for example, could now refinance … Continue reading

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Countrywide Makes A Deal

From Miami: Countrywide Financial will provide Florida homeowners up to $1 billion in mortgage relief under a settlement reached with the state’s attorney general over alleged abusive lending practices. The relief will include loan changes for an estimated 57,000 Floridians … Continue reading

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