countrywide home loans: A Private Investigator Called Me about An Active Rain Post Last Night
- 07/14/09 02:36 AM
Most people know that not only am I an originator, branch manager, and a regional manager, but I'm also a practicing real estate attorney as well. Last night I was stunned when I received a phone call from a private investigator from the west coast. Specifically she want to ask me about my Countrywide posts before and during their major collapse. I remember writing about 5 of them when they were the headlines of the mortgage news: Countrywide Investigation? Could pose more instability for the enitre industry Dust is Settling at Countrywide Death of Countrywide? I hope not..... B of A starts … (28 comments)
countrywide home loans: Countrywide Execs benefitting from Countrywide Collapse....
- 03/04/09 02:07 PM
As reported yesterday. I've modified the report to talk about the absurdity of these so called leaders. Whether they deserve to be or not, Countrywide Financial and its top executives would be on most lists of those who share blame for the nation's economic crisis. After all, the banking behemoth made risky loans to tens of thousands of Americans, helping set off a chain of events that has the economy staggering. So it may come as a surprise that a dozen top Countrywide executives now stand to make millions from the home mortgage mess. The team of former company executives have … (73 comments)
countrywide home loans: B of A starts Whacking Top Countrywide Mortgage Executives....
- 09/23/08 03:11 PM
The National Mortgage News reported today the following: Bank of America late Monday fired Drew Gissinger, a top production executive at Countrywide Home Loans who was in charge of retail, wholesale, and correspondent lending, according to company officials. Also let go were: Brian Hale, president of retail; Charlie Rogers, managing director of Countrywide's nationwide retail network; and Tom Hunt, managing director of the western U.S. retail branch network. Mr. Gissinger once carried the title of president and chief operating officer of Countrywide Home Loans. Meanwhile, BoA named Craig Buffie the top executive in charge of sales and fulfillment, overseeing 14,000 employees … (9 comments)
countrywide home loans: Countrywide Announces Identity THEFT by one of it's employees.
- 09/18/08 04:41 AM
This post is not there to throw Countrywide under the bus. They are already living under the bus due to a lot of bad mismanagement. However, this is not to throw them under the bus. Something bad happened and you as the consumer needs to know. A Countrywide employee took a myriad of CLIENT'S INFORMATION and distributed this information to unauthorized people outside of Countrywide. The ISSUE is that your information may be out there in some evil person's hands. Any company may have experienced the bad employee. What makes this so bad is that this affects so many people. Many of … (6 comments)
countrywide home loans: Countrywide gets sued again...
- 08/13/08 02:38 PM
The headline of Orginator Times today read....Countrywide Sued By Another State for Inducing Consumers to Take Out Loans They Couldn't Afford. Unfortunately, this was first seen when the attorney general of Illinois filded suit against CW. Illinois was the first state. Now West Virginia joins the ranks as well. The Attorney General for West Virginia alleges Countrywide made loans to West Virginia consumers on terms that were unaffordable and unconscionable. These loans exposed consumers to foreclosure and loss of their homes. Countrywide also used unfair and deceptive acts or practices to make loans and service loans. For example, Countrywide induced consumers … (16 comments)
countrywide home loans: Countrywide is at it again in Illinois - State of Illinois Files Suit against CW!
- 06/25/08 02:31 PM
"Countrywide's unfair lending practices have harmed tens of thousands of borrowers who've been placed in unaffordable loans and, as a result, our communities are now being destabilized by a skyrocketing number of home foreclosures," Lisa Madigan said in a statement Wednesday. Her office said that the company played a "major role" in the foreclosure crisis, all in an attempt to dominate the U.S. mortgage market. "Countrywide repeatedly qualified borrowers for mortgage loans based on salaries that were significantly higher than what they really made," Madigan added. "As a result, Countrywide put borrowers into loans that they could never afford, leading to … (5 comments)
countrywide home loans: Dust is Settling at Countrywide
- 01/14/08 07:58 AM
A lot of people are excited and scared at the same time, but I think a lot of clarity just happened with the new deal with B of A. I, personally, yes yours truly, was interviewed by Inman Real Estate News on just this topic on Friday. I am excited for the industry as this brings a lot of clarity and stability for CW. I always talk about the friends that I talk to over there. While nothing is sure and the deal won't be done until the third quarter, it does mean that the direction looks positive for CW...REAL POSITIVE! B of A on … (6 comments)
countrywide home loans: Is the Countrywide Bomb about to explode?
- 01/09/08 02:24 PM
All over the news Countrywide is denying that it's having a cash problem. I mean, if you borrow 11 billion dollars over the last 60 days, let's be real...it just doesn't go to far. Today I had lunch with a Capital Markets guru who buys and sells on the secondary market and he believes that CW is poised for a big fall. I believe it. I have a lot of friends who work at CW in different towns. One of my pals is a mucky muck there and he says that he calls 3 other branch managers three times a week … (8 comments)
countrywide home loans: Death of Countrywide? I hope not.....
- 08/05/07 04:00 PM
This week has been brutal to the mortgage industry. Not only have we seen jumbo rates climb 1.125%, but we've seen the death of American Home Mortgaege. American Home was a great and veritable competitor. I've been one who never wishes harm to my competitors. As long as we're all playing fair and by the rules, I have no issues with a good competitor. Fraud and crooks are intolerable. However, good companies need to be here. Not only for the competition, but the who concept of iron sharpening iron..... Literally....as I sign on to look at my daily blogs.....I read this blog....The … (14 comments)
1 “Let not your heart be troubled; you believe in God, believe also in Me. 2 In My Father’s house are many mansions; if it were not so, I would have told you. I go to prepare a place for you. 3 And if I go and prepare a place for you, I will come again and receive you to Myself; that where I am, there you may be also. 4 And where I go you know, and the way you know.” (John 14:1-4, New King James Version)
Most people know that not only am I an originator, branch manager, and a regional manager, but I'm also a practicing real estate attorney as well. Last night I was stunned when I received a phone call from a private investigator from the west coast. Specifically she want to ask me about my Countrywide posts before and during their major collapse. I remember writing about 5 of them when they were the headlines of the mortgage news:
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