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Senators Caught in Mortgage Fallout

When Senator Kent Conrad of North Dakota wanted a mortgage for his beach house, he turned to a Washington insider. James A. Johnson, former head of Fannie Mae, the government mortgage giant, who then put the senator in touch with Angelo Mozilo, chief executive of the mortgage lender Countrywide Financial.
The ensuing telephone call between Mr. [...]

Popularity: 2% [?]

Should Lenders be Allowed to Participate in the Mortgage Clean Up Process?

This has been bugging me for quite sometime now and I thought I would dedicate a blog post to voice how sickened I am by the fact that the very companies and people who have single handedly created this housing bubble and mortgage crisis are involved in the clean up process.
All these forums and seminars [...]

Popularity: 26% [?]

Borrowers who negotiate loan terms with a mortgage broker in Spanish, must receive their loan documents in Spanish

Se Hablas Espanol? Mi casa, su casa.
Sign here on this here mortgage and real estate contract. I know you cannot speak nor read English, but that’s not a problem. Everything I have told you is in writing on this here paperwork that you cannot read nor can you or will you ever understand.
You can trust [...]

Popularity: 1% [?]

Bank of America Buys Countrywide for $4 Billion

This is huge news and it looks like Countrywide borrowers will now be dealing with Bank of America. I will get all the details I can on how this will affect Countrywide borrowers that are in the loan workout and loan modification process.
You need to know ASAP how this will affect you and what B [...]

Popularity: 2% [?]

I Guess Countrywide Can?

This is going to be my first post where I mention Countrywide and I do not bash them. I have said many times that Countrywide Can’t. This week they showed me that Countrywide Can.
3 real people ontained a loan modification from Countrywide. Thanks Countrywide. Geez, I never thought those words would cross my lips.
Yes, real live loan modifications. [...]

Popularity: 26% [?]

We are looking for Countrywide borrowers that are in unaffordable and predatory loans

We are looking for Coutrywide borrowers that are stuck in a mortgage that is unaffordable or predatory. We want to help you fight back against Countrwyide Home Retention Department and make them fix your mortgage with a loan modification.

If you are having no luck in obtaining help from Countrywide, the we want to hear from you. We want to [...]

Popularity: 26% [?]

Here’s the deal, I get real cranky having to decline over 60% of what I am looking at, real cranky.

By Poppy (30 year mortgage underwriting veteran) 
Well, I am back to underwriting again - and I have to say - WTF, you have not stopped with the Mis-Rep and Crap that you are submitting. Damn, you are more creative than ever folks. Here’s the deal, I get real cranky having to decline over 60% of [...]

Popularity: 11% [?]

It saddens me that now a mortgage professional (Broker or Banker) has about the same credibility as a used car salesman

I guess as an industry we’ve earned that reputation. We sold too many of the wrong types of loans to the wrong types of people. There were too many crooks out looking out for their own paychecks, and not their customers best interests.
Its really a shame because mortgage transactions are usually the biggest financial transaction [...]

Popularity: 37% [?]

Countrywide Home Retention Department - My 16 week loan workout with Countrywide

This is a post in my forum at LoanSafe.org from a struggling homeowner. I thought I would showcase these every now and then on my blog so people can see the troubles that homeowners face when they reach out to the Countrywide Home Retention Department for help.
Submitted by Andrea;
This is my first post on this forum [...]

Popularity: 23% [?]

California Attorney General Jerry Brown Subpoenas Countrywide

California AG Jerry Brown is very interested in investigating loans made to borrowers with yield spread premiums (YSP).
Some people characterize these “hidden” fees as broker “kick-backs” that are essentially built into your mortgage by bumping up the interest rate, and the lender pays the originator of that loan extra money for doing so.
Brokers have [...]

Popularity: 1% [?]

Statement of Sheila C. Bair, Chairman, Federal Deposit Insurance Corporation on Accelerating Loan Modifications

Improving Foreclosure Prevention and Enhancing Enforcement before the Financial Services Committee; U.S. House Of Representatives; 2128 Rayburn House Office Building
December 6, 2007
Conclusion of Statement
Poor underwriting and abuses in the subprime mortgage market are having a significant negative impact on the housing markets and the U.S. economy. In the coming months, large numbers of subprime adjustable [...]

Popularity: 26% [?]

Safe Loan Modification Service

888-432-6634

M-F 8am-7pm PST

Open Saturdays 9am-3pm

Law Office of Gregory A. Paiva & Associates

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    • Did they change the terms of your loan to an arm? This is too risky
      catan785 | 13Aug08 | More
    • I am in limbo myself. Countrywide offered me a modification however the interest rate would adjust in five years. ...
      catan785 | 13Aug08 | More
    • How about also arresting this Countrywide employee, Cheaters Among Us, Sue Barry, http://reno.broowaha.com/article.php?id=3415.Sue Barry has been a loan officer and ...
      Edward | 13Aug08 | More