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House Democrats have declined to subpoena available records that might reveal whether other members of Congress got discounted VIP mortgages from subprime lender Countrywide Financial Corp. similar to the sweetheart deals given Democratic Sens. Chris Dodd and Kent Conrad.
A federal court has ruled that Florida's lawsuit against the former chief executive of Countrywide Financial Corp. should be tried in state court.
A federal judge in Los Angeles has thrown out shareholder claims of insider trading against all but one former executive of Countrywide Financial Corp.
New Jersey will receive about $3.7 million from Countrywide Financial Corp. for a fund to help eligible homeowners and state programs as part of a nationwide settlement to resolve subprime mortgage complaints, the state said Thursday.
In a story sent March 19 and March 20 about a unit of American International Group Inc. suing mortgage lender Countrywide Financial Corp., The Associated Press erroneously reported the amount of government money received by AIG. The company received $182.5 billion, not $170 million.
A unit of embattled insurer American International Group Inc. filed suit against mortgage lender Countrywide Financial Corp. in California federal court Thursday, alleging Countrywide misrepresented the health of loans that the company insured, resulting in massive losses.
Pennsylvania has joined a settlement with Countrywide Financial Corp. that makes available as much as $155 million to help keep thousands of state residents in their homes.
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.”
A former senior analyst for Countrywide Home Loans and another man have pleaded not guilty in an alleged scam to download and sell customer data from the mortgage lender.
Connecticut sued Countrywide Financial Corp. on Wednesday, becoming the latest state to take the mortgage lender to court over its lending practices.
Bank of America Corp. completed its purchase of Countrywide Financial Corp. Tuesday, making the Charlotte-based bank the nation's leading mortgage originator and servicer.
Illinois Attorney General Lisa Madigan contends that thousands of Illinois homeowners paid a steep price for Countrywide Financial's "desire to dominate the marketplace."
Countrywide Financial Corp. is accused of using misleading advertising and other unfair business practices to trick borrowers into taking on risky home loans they didn't fully understand in a lawsuit filed Wednesday by the California attorney general's office.
Countrywide Financial Corp. says stockholders controlling a majority of the mortgage lender's outstanding shares have approved the company's takeover by Bank of America Corp.
The Federal Reserve has approved Bank of America Corp.'s purchase of distressed mortgage lender Countrywide Financial Corp.
Bank of America says one of its own executives will run its consumer real-estate business after it acquires mortgage lender Countrywide Financial.
Mortgage lender Countrywide Financial Corp., which is under investigation for inflating certain borrowers' fees, acknowledged Tuesday that it has made errors and pledged to take steps to improve its operations.
Countrywide Financial Corp. said Tuesday it lost $893 million in the first quarter, as rising loan defaults amid a deepening housing downturn forced the nation's largest mortgage lender and servicer to sharply increase its provision for loan losses and book other credit-related charges.
Bank of America Corp. will expand efforts to help Countrywide Financial Corp. borrowers avoid foreclosure on trouble mortgages, a top bank executive said Monday.
Federal authorities are investigating Countrywide Financial Corp. for securities fraud, according to media reports.
Countrywide Financial Corp. said Friday home loan delinquencies and foreclosures rose in January as more borrowers struggled to make their mortgage payments.
Countrywide Financial Corp., under pressure to help stem growing home loan defaults, says it will expand programs to help borrowers manage their mortgage payments regardless of the type of subprime loan they have or whether they have already fallen behind on payments.
A former employee of Countrywide KB Home Loans has filed a lawsuit claiming he was wrongly fired after he reported fraudulent lending practices to superiors and refused to approve mortgages for unqualified applicants.
Bank of America Corp. is moving forward with its purchase of beleaguered mortgage lender Countrywide Financial Corp., Chief Executive Ken Lewis said Tuesday.
"There is not a single successful regulator giving him (President Obama) advice" William Black ( government lawyer in the 1980's, helped secure more than 1000 felony convictions resulting from the S&L scandal ) _______________________________________
Democrats lock Republicans out of committee room - TheHill.comFor months Towns has refused Republican requests to subpoena records in the case. Last Thursday Committee Republicans, led by Issa, were poised to force an open vote on the subpoenas at a Committee mark-up meeting. The mark-up was abruptly canceled.
Oversight Panel's Democrats Lock Out Republicans After DisputeThe move was apparently in retaliation for Republicans' efforts to subpoena records on Countrywide's so-called VIP loan program and for a video GOP staff recorded of Democrats darting from their chambers a week ago in the face of a vote.
Key Democratic Lawmaker Received Countrywide Loans Democratic Panel Chief Resists Move to Subpoena 'VIP' Records; Documents Suggest He May Have Benefited From Program
Democrat resists subpoenaing VIP mortgage recordsWASHINGTON (AP) - House Democrats have declined to subpoena available records that might reveal whether other members of Congress got discounted VIP mortgages from subprime lender Countrywide Financial Corp. similar to the sweetheart deals given Democratic Sens.
Criminal Probe Time for Dodd and ConradBut former Countrywide exec Robert Feinberg says otherwise.
SEC Upsets Some as It Sharpens Teeth Under Obama Appointee Schapiro - washingtonpost.comThe Securities and Exchange Commission has begun moving far faster to stop financial scams and open investigations into potential wrongdoing than in the past, according to agency data, adopting an aggressive posture after it was sharply criticized about its oversight of Wall Stre …
The Most Important Financial Journalist of Her GenerationEXCERPT: After all, the mortgage crisis was nothing if not the Bear/Baron model writ large.
The Secret Friends of Angelo at CountrywideLooks like Darrell Issa is doing in congress what gained him fame in California, being a real congressperson. Who are these friends of Angelo and why does the democratic leadership not want you to know?
NH Probes Mortgage CompanyRead worthy article regarding the NH Banking department looking into Bank of America's/Countrywide's loan modification practicees.
Warning: People with heart problems, pregnant women, and those with fully developed adult brains and a modicum of common sense are hereby warned that this article may cause high levels of stress and lead to serious mental and emotional problems that can lead one to feelings of de …
In 2006, Countrywide originated $461 billion worth of mortgages. In 2007, Mozilo took in $121.5 million from exercising stock options and was awarded another $22.1 million of compensation.
S.E.C. Accuses Countrywide's Ex-Chief of FraudAngelo R Mozilo, the self-made man from the Bronx who built Countrywide Financial into the nation's largest mortgage lender before the credit squeeze hit, has been charged with securities fraud and insider trading in a civil suit brought by the Securities and Exchange Commissio …
bank america modified 50000 mortgagesmods of 50K mortgages of 350K on AG settlement for countrywide
Countrywide has put our loan into foreclosure and now has a sale date. We requested the payment history from the first date of the loan. We have discovered that Countrywide has not applied all our payments onto either the principal or the interest.
Party leaders stressed about Dodd"Interviews with a dozen Democratic state legislators, party officials and operatives in Connecticut indicate there is deep concern back home over whether the incendiary American International Group bonuses issue has delivered a mortal blow to Sen.
Timothy Geithner Making Mortgage Bankers Rich AgainDespite Geithner's contention that banks are simply "burdened with bad lending decisions," most Americans understand at this point that there was serious fraud involved in the inflation of the mortgage bubble.
Sen. Chris Dodd (D-CT) replied this week to my letter criticizing his acceptance of favorable treatment from Countrywide Mortgage as follows: "Thank you for contacting me regarding my 2003 mortgage loans.
Ex-Leaders of Countrywide Profit From Bad LoansWell it looks like the people that were on point to get us into this financial mess are the ones that are benefitting greatly from it. When your home is foreclosed, thank Countrywide's former bosses that will buy your home for pennies on the dollar.
Nation & World | Ex-Countrywide team back in loan business | Seattle Times NewspaperFairly or not, Countrywide Financial and its top executives would be on most lists of those who share blame for the nation's economic crisis.
At PennyMac, Countrywide Leaders Buy Up Loans - NYTimes.comStanford L. Kurland, Countrywide's former president, and his team of former company executives have been buying up delinquent home mortgages that the government took over from other failed banks, sometimes for pennies on the dollar. They get a piece of what they can collect.
"Countrywide" Goes the Way of "Blackwater" | Center for Media and DemocracyCountrywide Financial, the company infamous for its role in the subprime mortgage crisis, is now called "Bank of America Home Loans." Bank of America, which purchased Countrywide in July 2008, is using the name change "to separate itself from Countrywide's reputation," reports th …
Countrywide tried to steal my parents' money - (mortgage servicing fraud)The author relates how her parents discovered they were not being properly credited for pre-payments. Fortunately her mother makes her own spreadsheets and discovered a discrepancy of $700. Ouch. But, go mom.
Dodd's Peek-A-Boo DisclosureConnecticut Senator Chris Dodd has finally, sort of, kind of, ended 193 days of stonewalling about his sweetheart loans from former Countrywide CEO Angelo Mozilo.
If you ask your congressman or senator to give you an accounting statement of where the 700 Billion in bailout has gone - most will quite blatantly tell you that they have no idea.
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