Posts tagged as:

Countrywide Home Loans

Countrywide Home Loans demands $111 million from Triad Guaranty Insurance

by Moe Bedard

LOS ANGELES (CN) – Countrywide Home Loans demands $111 million from Triad Guaranty Insurance, claiming Triad is trying to blame mortgage lenders for the insurer’s role in the housing bubble and collapse. In a somewhat brazen complaint, Countrywide claims Triad “encouraged lenders

0 comments Read the full article →

Washington DC Attorney General Announces Settlement With Countrywide

by Moe Bedard

Washington DC Attorney General - Attorney General Peter J. Nickles today announced that the District has agreed to join a settlement with Countrywide Financial Corporation resolving claims by the District and other states that Countrywide engaged in unfair and deceptive practices in its home mortgage lending. 

By committing to the settlement, the Attorney General has ensured that [...]

0 comments Read the full article →

Is Angelo Mozilo a villain or just vilified?

by Moe Bedard

From a broader perspective, Mozilo is also awaiting the verdict of history: Was he the No. 1 culprit of the financial crisis, as some (including Time magazine) have suggested? Or was he merely an aggressive executive who made mistakes while trying to keep his “baby,” as he called Countrywide, atop the heap?

“Mozilo’s fingerprints are all [...]

0 comments Read the full article →

Countrywide Loses Ruling in Loan Suit

by Moe Bedard

A federal judge in Manhattan has rejected an argument by Countrywide Financial seeking certain protections from investor lawsuits under new legislation intended to encourage modifications of home loans.
Countrywide, the big mortgage company, had argued that the legislation automatically voided its pledges to buy back loans from investors if those loans were modified for troubled borrowers.
Read [...]

0 comments Read the full article →

SEC Charges Countrywide CEO, Angelo With Fraud

by Moe Bedard

Ladies and gentleman, the infamous CEO from Countrywide Home Loans, Angelo Mozilo and three of his partners in financial crime have finally been sued for fraud by the Securities and Exchange Commission (SEC).
I think Mr. Mozilo recieved email training from the cast of a dumb and dumber because it looks like Angelo’s poor handling of [...]

1 comment Read the full article →

FBI arrests police officer, alleges mortgage fraud

by Moe Bedard

Looks like the FBI doesn’t mess around when it comes to sworn officers of the law and lying on mortgage applications (see story below).  I understand it is breaking the law, but I think that if everyone was actually arrested for doing this, then we would have millions of people going to prison.
I have personally reviewed [...]

1 comment Read the full article →

Colorado Attorney General Attorney Announces Countrywide Settlement

by Moe Bedard

DENVER) – Colorado Attorney General John Suthers today announced that Colorado has entered into a settlement with Countrywide Financial Corporation, and several of its affiliated entities, over the marketing of subprime and other high-risk mortgage products in Colorado.

As part of the agreement, Countrywide will make nearly $6 million available to eligible Colorado borrowers and to the State, including $500,000 for the Colorado Department of Local Affairs Division of Housing to support the continued operation and expansion of the Colorado Foreclosure Hotline.

Read the full article →

Another Example of the Deplorable Conditions at Countrywide Home Loans

by Moe Bedard

We have applied for a rate reductions but were told we would have to be diliquent on our account to qualify. That’s coming from Countrywide. So, we are behind now and everytime we call, we get someone different or the call center in India. Everytime I get connected to India, I request to speak to someone in US. When they do that, I get disconnected. I can’t believe that Countrywide can even exist with the way the treat the customer.

166 comments Read the full article →

Virginia AG McGraw settles Countrywide suit

by Moe Bedard

Attorney General Darrell McGraw today settled his suit against Countrywide Financial Corporation, Countrywide Home Loans, Inc., Countrywide Home Loans Servicing, LP, and Full Spectrum Lending, Inc.
Countrywide sold subprime loans, including adjustable rate mortgages (“ARMs”) with teaser rates that were unaffordable and unconscionable to West Virginia consumers. These loans exposed consumers to foreclosure and loss of [...]

Read the full article →

Countrywide Lawyers Say Loan Modification Ads Are Mere Commercial Puffery

by Moe Bedard

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.”

“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.”

Read the full article →

Countrywide Loan Modification Mania

by Moe Bedard

Last week, Monday, Tuesday and today was just insane with the amount of loan modification approvals that I witnessed coming in from Countrywide Home Loans. Homeowners that have been waiting for months, now were offered sweetheart deals.

Read the full article →

Ohio to Receive $4.39M in Countrywide Settlement

by Moe Bedard

Attorney General Nancy Rogers has announced the details of a final settlement with Countrywide Financial Corporation.

Read the full article →

Investors Prove Countrywide Lawsuit 100% Valid

by Moe Bedard

The facts are the facts. I am not going to add much commentary to this damaging blog post because it is what it is. All I know is Angelo (Ex-Countrywide CEO) is gonna have some explaining to do to Mr.  Lewis (CEO for Now of B of A) over some egg nog and whiskey.
Here are links, facts, data and concrete [...]

Read the full article →

Lender Loan Modification Lip Service: Do Not Believe the Hype!

by Moe Bedard

I have been blogging, stressing and ranting about loan modifications long before it became hip and cool to talk about helping struggling homeowners and taking the consumerist approach to the crisis.
Even before Sheila Bair of the FDIC and most of the non-profit advocates piped in on loan modifications, I was telling it like it [...]

1 comment Read the full article →

The Economic Cartel: CEO’s Involved in the World Economic Melt Down

by Moe Bedard

Paid to Fail? An Inside Look At Compensation and Bonuses for Wall Street’s Worst
Since 2000, home mortgage lenders have made more than $2.5 trillion in “toxic” subprime loans and most all these mortgages are failing miserably. In fact, millions of homeowners, tax payers and investors around the entire world are losing billions (possibly trillions) and [...]

0 comments Read the full article →

Bank of America Brand Seriously Infected by Countrywide Loans

by Moe Bedard

“Today, I’m announcing the biggest loan modification in American history,” California Attorney General Jerry Brown said at a press conference Monday morning. “Bank of America settled because their new entity, Countrywide, was guilty of massive irregularities.”
Thanks to the California Attorney General and 10 others states AG’s massive $8.4 million settlement, Bank of America has now [...]

0 comments Read the full article →

Bank of America has Agreed to the Nation’s Largest Loan Modification Program of Countrywide Predatory Loans

by Moe Bedard

“Countrywide’s greed turned the American dream into a nightmare for thousands of Californians who now face foreclosure,” said state Attorney General Jerry Brown, who led the negotiations for the states with Lisa Madigan, the Illinois attorney general.
Countrywide was sued by a handful state attorneys general, who alleged that the Calabasas, Calif., company engaged in predatory [...]

Read the full article →

Bank of America Announces Nationwide Homeownership Retention Program for Countrywide Customers

by Moe Bedard

Nearly 400,000 Countrywide Borrowers Could Benefit After Program Launches December 1
Nearly 400,000 Countrywide Borrowers Could Benefit After Program Launches December 1
CALABASAS, Calif., Oct. 6 /PRNewswire/ — Bank of America today announced the creation of a proactive home retention program that will systematically modify troubled mortgages with up to $8.4 billion in interest rate and principal [...]

Read the full article →

WE ARE NOT DEADBEATS!

by Moe Bedard

Contributed by an American homeowner. A woman, mother and wife who is suffering in what was supposed to be her American dream…………………………………….
From the movie:  The Terminator
Kyle Reese: Listen. And understand. That terminator is out there. It can’t be bargained with. It can’t be reasoned with. It doesn’t feel pity, or remorse, or fear. And it absolutely [...]

Read the full article →

Are You a Countrywide Home Loans & KB Homes Client?

by Moe Bedard

If you have a mortgage with Countrywide Home Loans and are in a KB home tract where Countrywide was the preferred lender, then please contact me right away.
You may have legal rights that were violated and may be eligible for mortgage relief. Please contact me here and I will contact you ASAP with possible [...]

Read the full article →