Tag Archives: countrywide financial

Big Banks Ready To Settle With Fannie Mae, Freddie Mac

Most of the people who originate mortgage loans do not hold on to them. They sell the loans and use the fresh money to make more loans. Thus people selling the loans rarely have the same incentives to find borrowers … Continue reading

Posted in Banks, fannie mae, freddie mac, mortgage | Tagged , , , , , | Comments Off on Big Banks Ready To Settle With Fannie Mae, Freddie Mac

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

Posted in Countrywide | Tagged , , , , , | Comments Off on Countrywide Extends A Helping Hand

Illinois Sues Countrywide

NEW YORK (Reuters) – The Illinois attorney general’s office plans to sue Countrywide Financial Corp <CFC.N> and Chief Executive Angelo Mozilo on Wednesday, claiming the troubled mortgage lender engaged in deceptive trade practices. The loans the lawsuit mentions include those … Continue reading

Posted in Countrywide | Tagged , , , , , | Comments Off on Illinois Sues Countrywide

Bank Of America Acquires Countrywide

From bizjournals.com: Bank of America Corp. said David Sambol, chief operating officer at Countrywide Financial Corp., will retire after the two companies merge in the third quarter. Taking his place will be Barbara Desoer, who will move from her role … Continue reading

Posted in bank of america, Countrywide | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Bank Of America Acquires Countrywide

Bank of America’s Mortgage Business

From the AP: David Sambol, currently Countrywide’s president and chief operating officer, was to lead the combined company’s consumer mortgage operations. Now, Sambol will retire after assisting Barbara Desoer, Bank of America (nyse: BAC – news – people )’s chief … Continue reading

Posted in bank of america | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Bank of America’s Mortgage Business

Countrywide Exec Retires

From the Triangle: A top executive at Countrywide Financial Corp. will leave the company after its takeover by Bank of America, despite previous plans to run the combined company’s mortgage operations. Charlotte-based Bank of America (NYSE: BAC) said in January … Continue reading

Posted in bank of america, Countrywide | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Countrywide Exec Retires

Refinance Increase

From Quicken Loans: The Mortgage Bankers Association announced this morning that applications for mortgage loans, on a seasonally adjusted basis, increased 2.9 percent last week when compared to the week prior. The report showed that applications for mortgages used to … Continue reading

Posted in Refinance | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Refinance Increase

Countrywide Faces Shareholder Lawsuits

Here’s a report: NEW YORK (MarketWatch) — Besieged mortgage lender Countrywide Financial Corp. is facing renewed regulatory scrutiny this week after a federal judge ruled it must face a shareholder lawsuit and Sen. Charles E. Schumer, D-NY, called for an … Continue reading

Posted in Countrywide | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Countrywide Faces Shareholder Lawsuits

Countrywide Reports Loss Near $ One Billion

Bloomberg says this is the company’s third straight quarterly loss. It’s being taken over by Bank of America, which isn’t going to be dissuaded by these new numbers. Countrywide’s stock went up a couple of pennies today. Foreclosure filings doubled … Continue reading

Posted in Countrywide | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Countrywide Reports Loss Near $ One Billion

Bank Of America Offers $40 Billion For Refinancing

Because of liabilities from its home equity loans, Bank of America has suffered a severe reduction in its earnings. It wants to take over Countrywide and must put aside billions to cover its liabilities. The bank needs regulator approval before … Continue reading

Posted in bank of america | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Bank Of America Offers $40 Billion For Refinancing