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Countrywide Insider Steals 2 Million People?s Information
2008-08-04 15:49:00 On Friday, the FBI arrested a former Countrywide employee and his accomplice for stealing and selling personal information (including social security numbers) obtained from people applying for mortgages. According to news sources, the number of people compromised was about 2 million. The Countrywide inside man was identified as Rene L. Rebollo Jr., who worked at Countrywide’s ...
Fed approves BofA Purchase of Countrywide
2008-06-07 00:41:00 The Federal Reserve has officially approved the purchase of Countrywide by Bank of America. I am not surprised by this event. BofA and Countrywide have been working on this for months. I suspect that this purchase would have never been allowed if the fear of "Bank Failures" in the papers were not looming. The purchase has been approved, but that does not mean by any means that it is complete. I suspect that some serious negotiations are occurring, but I would be surprised if the sale is not completed. The only question now is what is Countrywide really worth? Countrywide is the holder of thousands of foreclosures in California alone. One high profile foreclosure includes that of Ed McMahon. From MarketWatch: The Fed said Bank of America pledged to operate the combined mortgage operations under the bank's "polices, internal controls, and other risk-management systems." House prices have fallen further since January, while mortgage mark...
Feds Approve Bank Of America?s Buyout Of Countrywide
2008-06-06 15:20:00 The Federal Reserve gave it’s stamp of approval to Bank of America to complete their acquisition of Countrywide Financial Corp. After the announcement Ken Lewis, CEO of Bank of America, said that the deal would close in the 3rd quarter of 2008. If I had to guess, there were many in Bank of America’s headquarters ...
Doesn't BofA's Ken Lewis moving forward with Countrywide Toxic Mortgage see
2008-06-05 02:34:00 Rule #1: When you find yourself in a hole, quit diggingRule #2: See rule #1Bush blew hundreds of billions of taxpayer dollars and tens of thousands of lives even after it was clear he screwed the pooch in Iraq. And he just kept digging, and digging, and digging, refusing to admit his mistake. In the same vein, Ken Lewis at BofA knows that he'll be seen as a fool if he abandons Countrywide now, after pumping in a few billion earlier, but of course he's an even greater fool if he actually closes on this cancer, instead of cutting his losses and walking away.Either way, assuming this disaster goes through, Ken Lewis will be fired from BofA, and BofA shareholders will get slaughtered, and it'll be because of Angelo Mozilo and his corrupt gang at Countrywide. The lawsuits, the jail sentences and the billions and billions in losses will keep coming. And coming. And coming. And Ken Lewis of course will say "we never saw it coming".Well, we did. And Mr. Lewis, take our advice, if you kno...
By: Housing PANIC
Financial Indicator - Countrywide Financial
2008-06-04 08:20:00 Follow This Indicator To Gauge Financial Sector Health - And Grab Profits Smart Profits Report by Karim Rahemtulla, Investment Director It’s one of the most important companies in America today? But like any company, it’s got its share of pros and cons. For example? Pro: It holds the position of the largest private, non-governmental originator of mortgages in the US. Con: It also holds the dubious distinction of being one of the most blatant issuers of sub-prime paper. I’m talking about Countrywide Financial (NYSE: CFC) - the much-beleaguered bank and mortgage company. And there is an interesting trend occurring at the bank - one that bodes well for banks…
By: Jutia Group
Need To Modify Your Countrywide Loan? Pay Now, Talk Later
(Investor&rs
2008-05-28 17:43:00 Kathleen Doler ...
The Joys of Countrywide
2008-05-27 17:23:00 One of the more entertaining notes to appear in the Arizonal Regional MLS of late is the requirement on Countrywide-owned REO properties that the buyer be prequalified by Countrywide before an offer will be considered. The buyer can use any lender they choose for the loan, but Countrywide wants to make sure they can prequalify them ...
Rise in Luxury Home Foreclosures, Short Sales and REO?s?
2008-05-26 16:49:00 by Roberta Murphy It appears that even the luxury real estate market will not fully escape the financial ravages that are taking down less-expensive neighborhoods. Housing Wire asks: Has REO gone jumbo? To find out, they consulted with Integrated Asset Services, LLC in Colorado to see if foreclosures are moving up the real estate food chain. And
Orangeman...Disgusting
2008-05-21 21:49:00 In an email inadvertently sent as a reply, instead of a forward, Countrywide(CFC) CEO Angelo Mozilo passed the following message on to a borrower seeking a payment workout:Angelo_Mozilo@countrywi-de.com wrote: This is unbelievable. Most of these letters now have the same wording. Obviously they are being counseled by some other person or by the internet. Disgusting.The response was publicized by the LA Times and is now all over the news. Different interpretations are being assessed as to what is "disgusting"...the borrowers hardship letter, or the fact the borrower could find a sample hardship letter online.I think the disgusting factor is that Mozilo could even make this mistake. Further, his response is that of the old guard, unfamiliar, or in denial, that freedom of information online is reducing the mystery factor of real estate, whether it be loan rates, homes for sale or in this instance how to craft a hardship letter.Mozilo is not alone. The real estate industry has been painf...
LET THEM EAT CAKE! Angelo Mozilo (Angelo_Mozilo@countrywide.com) has just
2008-05-21 17:47:00 Gotta feel a bit sorry for the Great Orange One. He's gonna go to jail, we all know that. He's gonna have his assets seized, we all know that. His company is going to go bankrupt and all his employees are going to lose their jobs, and some will go to jail too, we all know that. And what's left of his reputation has been destroyed, we all know that.But now, on top of EVERYTHING that has gone wrong for him lately, he stupidly hits "reply all" to a desperate homedebtor's anguished email, calls him disgusting, blames blogs and the internets, and is exposed by the MSM worldwide for the cold, heartless, corrupt fool he is.LET THEM EAT CAKE!!!!Make sure you send Angelo and crew a nice letter too HP'ers. I'm sure he'll enjoy it.Here's Angelo's response on the original LoanSafe thread that exposed him, and internal Countrywide email cc list that some might enjoy having their hands on:Angelo_Mozilo@countrywide.co-m wrote: This is unbelievable. Most of these letters now have the same w...
By: Housing PANIC
AOL Execs Deal and Countrywide Whistles Blow
2008-05-20 21:04:00 Happy Tuesday, everybody. Ever so much exciting news this week, from SEC charges of fraud by AOL execs to a former Countrywide staffer with a new whistleblower case to a new study that says IT folks are still struggling with compliance, nearly 6 years after SOX. Meanwhile, more and more companies ...
By: Audit Trail
Using Countrywide as an Example of Housing Excellence. Nothing Down and Ba
2008-05-18 06:24:00 You are going to need to sit down for this one. If you have any heart conditions you may want to stop reading at this point. Many of you recall that Fannie Mae and Freddie Mac had their caps raised in January during the great Wal-Mart voucher experiment. It was sneaked into ...Related Posts:?A Trip down the Housing Graveyard: The Casualties of the Housing Bear Market.?What really goes on with Black-matter SIVs. A Micro-case study. My Experience with Prosper and how it is Similar to the Current Mortgage Debacle.?Wrong and Wronger: Compounding the Mortgage Mess with Bigger Mortgages.?Two Faces of Housing Panic: Schadenfreude and the Lender of Last Resort.?War of the Housing Worlds: 3 Reasons why the Bubble Spread; War of the Worlds, Orson Welles, and Mass Media?
COUNTRYWIDE WEEKEND RATES 5/9/08-5/11/08
2008-05-10 05:14:00 Realtors and Customers, Please find the Countrywide weekend rates attached for your clients. This week’s informational topic from Rey Gallegos, Home Loan Consultant: VA Loans: Many people forget about the only true 100% financing programavailable in Clark County, Nevada. VA Home Loan Features: · No Down Payment· No Income limit· The Loan is Guaranteed by the Government (This is the banksreassurance that in case of default they may still be able to recoup theirmoney)· No up-front or monthly Mortgage Insurance· This loan may be assumed by a qualifying person VA Home Loan Requirements: · Military veterans, active duty person's, and members of the nationalguard or selected reserves are eligible· Based on the applicant's length and type of service, VA issues acertificate for each person determined eligible to apply for a VAguaranteed home loan.· A VA Funding Fee is required to be paid to the VA (This fee can befinanced into the Mortgage Loan) VA Funding Fee: A VA funding fee ...
Countrywide falls on worry over B of A merger
(Reuters)
2008-05-10 04:21:00 Fri May 9, 3:39 PM ET ...
Will Bernanke and Paulson let Countrywide Toxic Mortage fail (after BofA pu
2008-05-08 22:38:00 It's coming.You can just feel it.Countrywide is about to go belly up, Angelo Mozilo is about to be indicted, and BofA is about to make a run for it.No way this deal goes through as announced. No way. So the question is - is Countrywide "too big to fail"?I don't think so. We're not talking trillions in counter-party risk like Bear Stearns. And we're talking about a company that everyone pretty much knows is going belly up anyway.If you have ANY money in Countrywide, GET IT OUT AND GET IT OUT NOW. Stick a fork in it. This orange pig is toast.Beware Collapse of Bank of America-Countywide Deal
By: Housing PANIC
Countrywide Credit
2008-05-07 17:19:00 Most of my friends have to deal with financial issues such like applying to Platinum Visa Card credit card application, Home Equity Loan, and mortgages and refinance products. As you know, there are always so many types of different financial products available for us. Sometimes we may find it is hard to make our decision. ...
Senator Chales Schumer Says Bank of America Should Reconsider Countrywide A
2008-05-07 03:21:00 U.S. Senator Charles Schumer reported, that Bank of America should seriously consider cutting its proposal to acquire Countrywide for $4 billion, if the mortgage company's past profits were overinflated due to bad lending practices. Several analysts have speculated that Bank of America will either seek better terms or withdraw from the acquisition altogether.
FLASH FLASH FLASH: BofA looking to cut Countrywide bid to $0 to $2, leading
2008-05-05 15:35:00 Tomorrow's news today, here on HousingPANIC. So when BofA walks away, Countrywide goes bankrupt, and Angelo Mozilo is indicted, there should be no surprises.Remember when we said 1 penny was too much to pay, and that this deal would NEVER EVER go through? Countrywide is every STD in the book. BofA would have to be the stupidest company on earth to hook up with them. And the Countrywide lawsuits and liabilities for years to come will be staggering.This gem hot off the wires just now:BofA may lower Countrywide bid to $2/share or belowBank of America Corp. is highly likely to negotiate a sharply lower price for Countrywide Financial Corp, and should just walk away from the deal altogether, an analyst said Monday.Bank of America could face $20 billion to $30 billion in write-downs of Countrywide's mortgage loans after it closes its acquisition of the troubled mortgage lender, FBR Capital Markets analyst Paul J. Miller Jr. told clients in a research note."BAC should completely wal...
By: Housing PANIC
Angelo Mozilo's time as a free man is running low. Countrywide Toxic Mortg
2008-05-05 12:34:00 Will Angelo go OJ on us soon? A white Ford Bronco with an orange man in the back headin to Mexico? Or will he pull a Ken Lay and just conveniently die?Anyone who thinks the housing crash and mortgage meltdown is over is fooling themselves. The next great chapter is coming - The Arrest of Angelo Mozilo and the Fall of COUNTRYRON. And the charges against Countrywide that will come will give BofA a convenient reason to walk away from that moment of stupidity too as CFC goes bankrupt and folds up shop.What's frustrating is that HP'ers knew what was going on for months and months, it was all just so OBVIOUS. And yet it took the government years to finally getting around to do something about it, after the real damage had been done.Government Intensifies Mortgage InvestigationFederal agencies are intensifying a criminal investigation of the mortgage industry and focusing on whether some lenders turned a blind eye to inflated income figures provided by borrowers.In March, the Justice De...
By: Housing PANIC
Countrywide Fast & Easy
2008-05-01 05:16:00 A federal probe of Countrywide, the nation’s largest mortgage lender, is turning up evidence that sales executives at the company deliberately overlooked inflated income figures for many borrowers, people with knowledge of the investigation say. Some of the problems are surfacing in a mortgage program called “Fast and Easy,” in which borrowers were asked to provide ...
Countrywide loses $893 million for the quarter while Angelo Mozilo cashes i
2008-04-30 08:39:00 Seriously, if BofA completes the CFC acquisition, you'll know something funny is going on with Hank Paulson and Ken Lewis. Countrywide is AIDS, Chlamydia, Genital warts, Herpes, Gonorrhea, Hepatitis and Syphilis all rolled into one. BofA would be dealing with lawsuits, losses and employees going to jail for years and years.Watch for the other shoe to drop soon here. And watch for the FBI to announce formal charges against Countrywide execs, and Angelo Mozilo by the end of Summer.And oh, get your popcorn.Countrywide Financial Corp. said Tuesday it lost $893 million in the first quarter, as rising loan defaults amid a deepening housing downturn forced the nation's largest mortgage lender and servicer to sharply increase its provision for loan losses and book other credit-related charges.Shareholders saw their stake in the company dwindle as Countrywide shares lost 80 percent of their value by the end of 2007. Shares had hit a five-year peak of $45.03 in February of that year.Meanwhi...
By: Housing PANIC
Countrywide Home Loans is in tha house. True that.
2008-04-28 06:17:00 Pick up ya phoneFreedomCountrawide can man
By: Housing PANIC
Countrywide Selling REO Property To Minority and First Time Buyers
2008-04-26 15:14:00 Countrywide Financial has joined into a partnership with New Vista Asset Management to sell their foreclosed upon properties. What is different that most property sales by bank owned real estate is that Countrywide is not just dumping the properties. Instead they are trying to sell them to minorities and first time buyers as part of ...
Bank of America to Drop the Name Countrywide
2008-04-26 02:35:00 Bank of America is planning to drop the name Countrywide Financial once its acquisition of the company is complete, which is expected to be finalized by the end of the year. The change comes just after officially telling the Federal Reserve that it plans to boost Countrywide's lending standards and remove sub-prime and option adjustable rate lending where the price of the loan can exceed the value of the property when borrowers choose the option to pay less then the interest due.
Bank of America Neuters Countrywide?
2008-04-22 13:44:00 CNN reports that Bank of America will eliminate all but the most sound mortgage products as it attempts to complete its takeover of Countrywide. Countrywide was made famous by its option ARM and other non-traditional products which have clearly back-fired. Which begs the question - why Countrywide mortgage at all? Bank of America ...
Long Term CD Yields Up at Countrywide
2008-04-19 00:45:00 Countrywide Bank has recently raised their long term CD rates by several basis points. All CDs over 18 months have been increased. 18 month CDs now yield 4.10% APY, while 3-5 year CDs yield 4.50% APY, some of the highest rates available. Countrywide CD’s all have a $10,000 minimum balance and are FDIC insured up ...
By: The Piggy Banker
Former Countrywide Toxic Mortgage President Stanford Kurland starts company
2008-04-08 00:59:00 How to get rich, REIC-style, while having no morals:1) make money screwing sheep on the way up2) make money screwing sheep on the way down3) repeat 1 & 2 until you die and your soul burns forever in eternal hellFormer Countrywide Exec Heads Firm Targeting Troubled MortgagesLOS ANGELES (AP) -- Stanford Kurland spent nearly three decades helping build Countrywide Financial Corp. into the nation's largest mortgage lender.Now, the former president of the troubled company and several key colleagues hope to cash in as the housing market collapses.Kurland, 55, will serve as chairman and chief executive officer of a new company unveiled Monday that will acquire and restructure distressed mortgages.Private National Mortgage Acceptance Co. LLC, also known as PennyMac, intends to help borrowers restructure loans so they can avoid foreclosure and maintain payments."He won't be the first or the last person trying to make money on both sides of a trade," said Frederick Cannon, an analyst at...
By: Housing PANIC
FLASH: ANGELO MOZILO OF COUNTRYWIDE ARRESTED
2008-04-01 19:02:00 Los Angeles (AP) - Angelo Mozilo, the founder, chairman and CEO of Countrywide Mortgage, the nation's largest mortgage lender, who says he committed no crimes at the scandal-ridden mortgage company, has been indicted on criminal charges and will be taken into custody later today, The Associated Press has learned.The FBI and SEC have had Mozilo and Countrywide under investigation for various charges including insider stock trading, knowingly enabling mortgage fraud and various Sarbanes-Oxley violations for months, and the indictment was expected."The arrest of Angelo Mozilo if true is the beginning of the end for the corrupt Real Estate Industrial Complex" said NAR Chief Economist Lawrence Yun reached today by the AP in a phone interview. "We at the National Association of REALTORS(R) hope to see all of the guilty parties rounded up, including our disgraced former Chief Economist, David Lereah, along with most of our 1.2 million members. Mozilo should be just the start."FBI spokesm...
By: Housing PANIC
The Big Squeeze - Countrywide Limits Broker Compensation
2008-03-31 18:27:00 Countrywide issued a communication to its brokers today limiting compensation on all loans to Countrywide to 4 points, including yield spread premium (back points or YSP). While 4 points may seem egregious to some, it is the first step at banks actively restricting total compensation to brokers above and beyond traditional federal and state guidelines. ...
Countrywide Execs Receive Millions
2008-03-30 18:02:00 Top executives at Countrywide are set to receive millions as part of Bank of America's buyout agreement. Leading the way is CEO, Angelo Mozilo, receiving $19 million. Next up is Sambol who is set receive $28 million for staying with the company. Bank of America announced their payments for top executives at Countrywide as part of their buyout agreement.
Countrywide exec gets $28 million from Bank of America
2008-03-28 06:13:00 NEW YORK (Reuters) - Bank of America Corp said it has agreed to pay $28 million to Countrywide Financial Corp Chief Operating Officer David Sambol to induce him to run the merged companies' consumer mortgage operations.
By: mini wisdom
Troubled Countrywide Faces FBI Probe
2008-03-13 20:08:00 Fraud allegations made against the Countrywide Financial Corporation brought the Federal Bureau of Investigation at the company?s doorstep. The investigation will involve the examination of underwriting and lending practices as well as possible misrepresentation of subprime loan-related losses. Countrywide, one of the biggest lenders in the nation was acquired by Bank of America last January after its subprime lending operation resulted to billions in losses.
Countrywide stock heading to zero, Fannie and Freddie in massive trouble, a
2008-03-10 20:42:00 Well, the market seems to agree with HP - the BofA / Countrywide Toxic Mortgage ain't gonna happen and shares are in freefall again. Tough to effectively integrate a company when everyone is under investigation or heading to jail too...Then you have a piece in Barron's about the future prospects of Fannie and Freddie and the massive - and I mean MASSIVE - writedowns to come. Can you say government bailout? Can you say ABSOLUTE F*CKING RAGE FROM HP'ERS? The fact that Fannie owns $314 BILLION in liar's loans alone should FREAK YOU OUT.And then you have the NY governor (and Clinton supporter) about to resign after a hooker scandal, and yet Mozilo still runs Countrywide into the ground. How's that?And of course, the stock market is tanking... again... I swear, housing panic is everywhere.BARRON'S COVER - Is Fannie Mae the Next Government Bailout?IT'S PERHAPS THE CRUELEST OF ironies that in the U.S. housing market's greatest hour of need, the major entity created during the Depr...
By: Housing PANIC
US opens probe into Countrywide Financial: report
(AFP)
2008-03-10 03:51:00 Sun Mar 9, 3:38 PM ET ...
FBI starts criminal probe into Countrywide, reports NY Times
2008-03-10 03:20:00 March 09, ReutersNEW YORK - The FBI has begun a criminal inquiry into the largest U.S. mortgage lender, Countrywide Financial Corp, for suspected securities fraud as part of investigations into the mortgage crisis, The New York Times reported on Sunday.Citing unnamed government officials with knowledge of the case, the Times said the investigation into whether Countrywide misrepresented its financial condition and the soundness of its loans in securities filings was at an early stage and it was not clear if any charges would result.A Countrywide spokeswoman, Susan Martin, told the newspaper that "we are not aware of any such investigation." The probe was first reported on Saturday in The Wall Street Journal.The Countrywide inquiry follows a broader investigation by the FBI into 14 companies as part of a review of the practices of the mortgage industry, the Times said.Read more this news quotephoto: The Countrywide bank is seen in Lakewood, Colorado September 11, 2007 (REUTERS/Rick W...
FLASH: Countrywide Toxic Mortgage (finally) under investigation by FBI, and
2008-03-09 21:44:00 It's only a matter of time now HP'ers. Angelo Mozilo will spend the rest of his days, after his conviction and surrender, in jail. The orange man will be wearing an orange jumpsuit for the rest of his life, and he will be joined by more than a few of his fellow Countrywide employees in my personal opinion.A few more comments on this expected development1) There is NO way that Countrywide gets acquired by Bank of America. No way. Ain't gonna happen. Not even for a penny. BofA would have to be the stupidest organization on earth. The Countrywide lawsuits and criminal investigations will go on for years to come, and the penalties, judgements and fines will be in the tens of billions, if not more. If BofA acquired CFC and their liabilities, it could wipe out BofA's balance sheet in a minute. 2) Angelo Mozilo and Countrywide are rightly taking the blame for the mortgage meltdown, subprime disaster and housing crash. Their employees, led by their insider-trading, self-enrich...
By: Housing PANIC
Countrywide Being Investigated - Is This Bank Of America?s Out?
2008-03-09 17:54:00 The business practices of Countrywide Financial are being investigated by the FBI according to Bloomberg. While it is hard to keep track of everything, the charges of security fraud are hard to get out of if Mozilo selling a huge chunk of his stock right before the share price tanked does raise a red flag. ...
Countrywide Facing FBI Investigation
2008-03-09 16:49:00 According to The Wall Street Journal, The FBI is investigating into Countrywide over securities fraud. The FBI has just started its investigation looking into if Countrywide miss-reported its financial position and falsely reported the quality of its mortgage loans.
FBI investigates Countrywide for securities fraud
2008-03-08 23:26:00 Countrywide is one of 15 sub-prime lenders under investigation for potential securities fraud related to statements about its financial position and the quality of loans in its portfolio. From a Wall Street Journal article:The Federal Bureau of Investigation is probing subprime lender Countrywide Financial Corp. for possible securities fraud, according to law-enforcement officials and finance-industry executives. The inquiry involves whether company officials made misrepresentations about the company's financial position and the quality of its mortgage loans in securities filings, four people with knowledge of the matter said. It is at an early stage, they emphasized...Fifteen other subprime companies also are under scrutiny by federal agents and prosecutors in a broad look at the subprime industry sparked by huge losses on residential mortgages and the securities used to fund them. The investigations are examining mortgage-origination fraud, conflicts of interest and undisclosed ...
Countrywide Under FBI Investigation
2008-03-08 22:26:00 As if Countrywide, and his leader weren’t in the spotlight enough for their troubles, the FBI is apparently investigating Countrywide for fraudulent lending practices and financial reporting. The mortgage company is suspected of widespread fraud, which may have contributed to the subprime mortgage crisis that has rocked the U.S. economy. The investigation will examine underwriting and ...
Bank of America Reports it Still Plans to Acquire Countrywide Despite Condi
2008-03-07 01:49:00 Bank of America confirmed that it plans to continue with its buyout of Countrywide despite rising delinquencies. Ken Lewis, CEO of Bank of America, reported that everything is ready to complete the transaction. Countrywide reported last week that its delinquency rate increased nearly 900 percent from a year prior as the number of foreclosures continue to sky rocket.
Countrywide admits:Ticking Time Bombs
2008-03-05 01:58:00 I know it seems like a decade ago but people used to get a big head about their recent investment property purchase or their great 1% rate on their 1.3m condo in the city. WAMU, Countrywide, INDYMAC, World Savings(bought by Wachovia) and countless bankrupt lenders did these loans all day long. They allowed the borrower to have a payment that was less than the interest on the underlying mortgage. The "teaser rate" allowed people to qualify for a lot more home than they could possibly afford. Up until mid 2007 borrowers would be qualified based on the teaser rate that typically lasted for 5 years or until the loan had negativly amortized to 105% or 110% of the original balance. Then the loan would fully amortize. Meaning a HUGE spike in the payment. Let's not even mention the people that believed the loan officer or broker who swore on his/her upcoming BMW payment that the 1% was fixed. Yes, it is fixed but they were placing a serious bet about their income and the property market ov...
Digging into Countrywide: When Half Your Loans are in California and Flori
2008-03-04 18:22:00 A bicoastal strategy is not an effective way to balance out a company. Countrywide has been at the center of the mortgage market meltdown. It is important to understand the five main segments of the company: 1. Mortgage Banking: this segment originates, purchases, and services non-commercial loans primarily linked to residential real ...Related Posts:?Et tu Subprime? Why This Mortgage Proposal is Hot Air?As of Today.?Foreclosures? Housing Bubble? In Southern California? Impossible!?$640 Billion in Sub-prime Loans Originated. $386 Billion in Alt-A Loans Originated. $1.026 Trillion in Loans at Risk? Priceless.?Real Homes of Genius: In the Backyard of Countrywide. Today we Salute you Calabasas.?Triangulating Real Estate. 3 New Market Behaviors: Rewriting History, Falling Sales Receipts, and a Sort of Diverse Workforce.
And then the angry sheeple starting paying "house calls" on Countrywide Tox
2008-03-04 11:51:00 Oh, yes, the real fun stuff is starting now.Now the angry mortgage fraudster and failed flipper sheeple mobs, looking for someone to blame, started to go after the REIC execs in a more up-close-and-personal way. First up - the Countrywide executives who knowingly enabled and promoted mortgage fraud in order to enrich themselves. Check out this story of one of their execs being hounded in Ohio.Next the sheeple will be going after the realtors and mortgage brokers who did and said anything in order to put the sheeple into houses they couldn't afford, in order to earn a commission.HP doesn't recommend violence or personal attacks against the REIC. But it's nice to see the failed housing gamblers take their game up a notch.But it's too bad they're not blaming the people who deserve the blame the most: Themselves.In fight against foreclosures, ornery activists tackle Countrywide, nation's biggest lenderCLEVELAND - Folks on Humphrey Hill Drive were still waking up on the icy Satur...
By: Housing PANIC
Is Your Line of Credit Frozen Yet? If Not, Yank it Out NOW!
2008-02-28 16:46:00 Inside sources tell me that the lenders are going to be freezing your lines of credit. What this mean is, if you have a HELOC (Home Equity Line of Credit) or any other LOC (Line of Credit), whatever balance you have open now will become the MAX you can access.
By: REI Pipeline.com
Countrywide Eliminating the Option ARM?
2008-02-26 01:50:00 Countrywide appears to be eliminating the Option ARM, at least from the wholesale channel. Another sign of the tightening taking place at the beleaguered lender in an attempt to finalize the Bank of America purchase earlier this year. How do I know they are eliminating the Option ARM (known commonly as the neg am or ...
Are you ready for the glorious frog march of Countrywide Toxic Mortgage's A
2008-02-21 10:33:00 Seriously, I can't believe that Angelo Mozilo hasn't been arrested yet.Really. I cannot believe that Countrywide's offices haven't been raided, and Mozilo and gang frog-marched to the pokey for the world to see.It will happen. And when it does, it will be glorious.Rise of the BezzleIf there is one person more responsible for this mess than any other, it?s Angelo Mozilo, the CEO of Countrywide Financial, and one of America?s best-paid executives. His company emerged as the leading practitioner of the kind of sub-prime lending that led to these problems. U.S. Senator Charles Schumer recently singled out Countrywide as most representative of the ?greed ? motivated widespread, irresponsible lending that contributed to what could have been the largest home foreclosure crisis in our country.? Schumer went on to accuse Countrywide of giving sales staff incentives to market the most expensive mortgage loans for the company ?and its partners.? According to Schumer, ?We have learned...
By: Housing PANIC
Delinquencies rise at Countrywide
(AP)
2008-02-18 14:54:00 AP - Countrywide Financial Corp. said Friday home loan delinquencies and foreclosures rose in January as more borrowers struggled to make their mortgage payments. Read More ?
Surprise, Surprise Countrywide Foreclosures, Deliquencies Up
2008-02-15 13:20:00 Countrywide reported increased foreclosures and delinquencies. Raise your hand if you heard this one before. Of course, no one is surprised as RealtyTrac reports that overall foreclosures were up 75% in 2007. I’m sure the NAR and others are saying somewhere that this blog and others “attitudes” are driving the rising foreclosures. From Market Watch on ...
BJP plans countrywide protest against fuel price hike
2008-02-14 17:42:00 The opposition Bharatiya Janata Party (BJP) will organise country-wide protests against the hike in petrol and diesel prices announced by the union government Thursday.
By: Latest News
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