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countrywide financial

Countrywide Accused of Selling Defective Loans

by Moe Bedard

One of my long standing points of view on the mortgage and housing crisis is that, these creative loans that were invented, sold and sliced and diced over the last 3-5 years were incredibly unfair and deceptive. Defective credit instruments that were made to fail and are essentially “lemon loans.”
It looks like the Illinois Attorney [...]

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Bank of America Details Community Development, Foreclosure Relief Goals

by Moe Bedard

CHARLOTTE, N.C., April 28 /PRNewswire/ — Bank of America today announced key initiatives to reduce the impact and number of foreclosures on communities as well as new goals in corporate philanthropy and community development and investment. Bank of America also said it will locate the combined national consumer mortgage headquarters in Calabasas, California, once it [...]

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