Comments on: Attention Countrywide Insiders – ABC is looking for any information on Angleo Mozilo for a TV Special

By: Dan M Gilbreath

Dan M Gilbreath — Mon, 12 May 2008 17:36:53 +0000

Within the last three years, on three of our new mortgage loans for investment property, Countrywide failed to property account for prepaid interest collected at close of escrow. Instead of refunding the over-collection of prepaid interest, they offset against credits and in one instance offset against a bogus fee that had never before been disclosed. After months of discussion they are still “looking into the issue.” Borrowers should be careful to analyze their closing statements vs. what appears in their loan statements and 1099’s.

By: R. Miller

R. Miller — Sat, 15 Mar 2008 11:54:15 +0000

How much are they paying for whistleblowing that will cost someone their job? The person I know is thinking about a book deal.

By: CJ Everhart

CJ Everhart — Wed, 05 Mar 2008 02:23:55 +0000

The servicers know that they can screw over so many people and suffer little to no repercussions. It’s not enough to tell people to file the QWR’s. They answer them with lots of fluff. Tell people how to proceed after they get the fluff answers. There needs to be a better connection between people having problems so that they can band together and sue.

By: Moe

Moe — Mon, 03 Mar 2008 17:23:29 +0000

Thanks for taking the time to comment Lisa. There are a lot of good mortgage professionals like you out there that are suffering. Many of the very same lenders you all were committed to, have turned their backs on you all. In fact they are throwing you under the bus. It needs to stop.

I wish you the best of luck!

By: Lisa Tait

Lisa Tait — Mon, 03 Mar 2008 14:51:06 +0000

Moe,
I have been Mortgage Banking for 26 years and lost my job with Ownit Mortgage almost 15 months ago.I have enjoyed and followed ImplodeOMeter over the last year. Thought you may be interested in a “Blog” on Countrywide for your research.
Google “EX cwinsider” this will give you up to date comments from “Former and Current Countrywide Employees”. I had a lapse of my sanity I worked for 6 months at Full Spectrum about 4 years ago and the Managers strong arm and good old fashioned loan shark treatment of Sub Prime borrowers made me sick. I am so glad he and his entire branch went down. I can’t help but wonder if he is now behind with his mortgage payments on his 3 million dollar beach house he had custom bulit while I was in his branch. Best of luck I will look for the ABC special.