In marketing, advertising and testimony before Congress, Countrywide Home Loans has said repeatedly that it is working hard to modify the mortgages of financially strapped borrowers caught up in the subprime meltdown. But in a New Hampshire court, attorneys for the lending giant are singing a different tune, describing such assurances as “mere commercial puffery.”- MSNBC
My blogging life has taken me to some great places and has blessed me with a way to provide for my family. If I could thank any one company for taking me there quicker than any other, it would be the guys and gals of Countrywide.
The stories, controversy and Angelo Mozilo emails keep me very busy and don’t let me forget to mention ALL the bad loans that my firm is working out in our processing center in Corona, California.
So, with that said…
Saying the modification offers are “only Countrywide’s vague advertisements,” attorneys for the lender are asking the court to throw out a lawsuit alleging breach of good faith, fraud, negligence and misrepresentation, which was filed on behalf of a family that was refused a loan modification by the California-based company.
“It’s breathtaking,” attorney Mary Frances Stewart of Concord, N.H., said of Countrywide’s response to the lawsuit she and co-counsel Krista Atwater filed in Merrimack County Superior Court. In its response, “Countrywide is saying, ‘We don’t have any obligation or even necessarily the intention of actually modifying these loans,’ and yet they’re representing that they do.”
Comments on this entry are closed.