Posts Tagged ‘Countrywide’

Bank of America Invests Heavily in Countrywide

Written by Leatherneck on August 23, 2007 under Archives, Investors, Lenders

Bank of America Corp. bought $2 billion of preferred stock from Countrywide Financial Corp., erasing concern the nation’s largest mortgage lender will go bankrupt and boosting investor confidence in stocks worldwide. One day earlier the four largest U.S. banks — Citigroup Inc, Bank of America Corp, JPMorgan Chase & Co and Wachovia Corp — said they borrowed $2 billion from the Fed to show support for the financial system.

Dow drops 100 points in first 2 minutes Thursday

Written by Leatherneck on August 16, 2007 under Archives, Economic Impact, Lawsuits

As we watched the Dow Jones opening bell on Bloomberg TV we also watched the Dow drop 100 points in the first two minutes of trading. Declines reflect little confidence in the debt markets. The Fed put more cash in to the system with $5 billion added overnight, but the move was overshadowed by one analyst who used the words “bankruptcy” and “Countrywide” in a recent report.

Countrywide Unable to Sell Paper

Written by Leatherneck on August 10, 2007 under Archives, Lenders

For a few days we took reassurances from Countrywide as a good sign. The lagest mortgage lender in the United States reassured everyone with glowing statements about having billions in liquidity and low exposure to subprime. Now Countrywide is singing the mortgage blues anyway.

HomeBanc Corp Stops Mortgage Loan Originations

Written by Timothy Blake on August 07, 2007 under Archives, Lenders

Unable to borrow on its lines of credit and unable to fund its mortgage loan funding obligations starting Aug. 6, HomeBanc Corp. reported Tuesday it will leave the mortgage loan origination business. Atlanta-based HomeBanc said does not plan to fund any future mortgage loans, and is no longer accepting any mortgage loan applications or funding any mortgage loans previously originated and not yet funded. The company said it is investigating a course of action to preserve the value of its remaining assets.

Wells Fargo, Countrywide Sued Over Racial Issues

Written by Timothy Blake on July 31, 2007 under Archives, Lenders

Two black homeowners have sued Wells Fargo & Co, accusing the second-largest U.S. mortgage lender of racial discrimination in how it sets rates and fees. SOme say loan officers have a discretionary pricing policy that results in loan officers adding points and fees to black borrowers

« Older Entries
Newer Entries »

Our Sponsors

<
Our Partners Selected Articles


© Copyright 1998 - 2012 Mortgages and What Is A Bad Loan | 50 queries in 0.334 seconds.