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Countrywide Financial

AIG Continues Risky Lending Practices | Bruce Krasting | Posted 05.25.2011 | Business

On March 16, 2009 United Guaranty revised its standards for providing the first loss insurance that has caused so much pain... Noteworthy is the fact...

FINalternatives: Hedge Fund Gloms Onto Ex-Countrywide Officials' New Venture

Huffington Post | Julie Satow | Posted 05.25.2011 | Business

Hedge funds have never been shy about getting their hands dirty, and so it goes with the latest unsavory money-making endeavor. Boston-based Highfield...

Countrywide Barred From Mortgage Lending

Crain's Chicago Business | Steve Daniels | Posted 05.25.2011 | Chicago

llinois' top banking regulator is barring Countrywide Home Loans Inc. from making any new mortgages in the state until his agency is convinced the len...

One American Carmaker -- Our Best Solution?

Steve Parker | Posted 05.25.2011 | Business
Steve Parker

If the Detroit Three were to merge into one company, ownership shared with the American people, it could benefit everyone; the carmakers, their dealers and their customers

Brand Expert Scores Obama v. McCain 7 Ways

John Tepper Marlin | Posted 05.25.2011 | Politics
John Tepper Marlin

The Obama and McCain brands have been rated by branding-strategy expert Patt Cottingham of Genuine Imprints, Ltd . Her paper "Brand Obama or Brand Mc...

Market Just Barely Good Enough To Sell Sex-Party House After All

Footnoted | Michelle Leder | Posted 05.25.2011 | Business

On Tuesday, Countrywide's sex party house sold at auction for $475K, a substantial haircut from the $1.1 million Countrywide was in for. Keep in mind ...

Vilified: What You Don't Know About My Brother, Angelo Mozilo

Lori Mozilo | Posted 05.25.2011 | Business
Lori Mozilo

When the mortgage crisis broke, there was as flurry of innuendos and allegations about Angelo and Countrywide. However, reporters are merely recycling misinformation they've gotten from each other.

Even Sex-Party Houses Aren't Selling In This Market

Footnoted | Michelle Leder | Posted 05.25.2011 | Business

Footnoted regulars know that I've been chronicling the fate of Countrywide's sex party house in Holmes Beach, Fl and using it as a metaphor to explain...

Housing Prices May Still Go Lower

Washington Independent | Charles R. Morris | Posted 05.25.2011 | Business

Financial markets have finally internalized the brutal fact that house prices still have a long way to fall. The full-year price drop in 2007 was 8.5 ...

Illinois To Sue Countrywide Over "Unfair And Deceptive" Mortgages

AP | CARYN ROUSSEAU | Posted 05.25.2011 | Business

CHICAGO — The nation's biggest mortgage lender engaged in "unfair and deceptive" practices to get homeowners to apply for risky mortgages far be...

Obama's Shortlist Just Got Shorter

Carol Felsenthal | Posted 05.25.2011 | Politics
Carol Felsenthal

Chris Dodd, Donna Shalala, Richard Holbrooke, David Boren can be scratched from Obama's short list (and perhaps even his long list) for vice president and for cabinet or other high-level positions

Inside Ed McMahon's Money Mess

Michael Lewittes | Posted 05.25.2011 | Entertainment
Michael Lewittes

"Being Ed McMahon was an expensive proposition." A lot of cash "went to tips," noted Fisher, who recalled walking through hotels with McMahon as he would hand out money to anyone who helped him.

Countrywide CEO Mozilo Calls Borrower's Plea For Help "Disgusting"

LA Times | Posted 05.25.2011 | Business

Apparently clicking "reply" when he meant to hit "forward," Countrywide Financial Corp. Chairman Angelo Mozilo ignited an online furor Tuesday by desc...

Judge: Countrywide Officers To Face Suit By Shareholders

AP | ALEX VEIGA | Posted 05.25.2011 | Business

LOS ANGELES — A federal judge has ruled that a shareholder lawsuit against Countrywide Financial Corp. executives and directors should go to tri...

Countrywide Admits To Making Errors

AP | CHRISTOPHER S. RUGABER | Posted 05.25.2011 | Business

WASHINGTON — Mortgage lender Countrywide Financial Corp., which is under investigation for inflating certain borrowers' fees, acknowledged Tuesd...

Countrywide Loses $893 Million In First Quarter

AP | ALEX VEIGA | Posted 05.25.2011 | Business

LOS ANGELES — Countrywide Financial Corp. said Tuesday it lost $893 million in the first quarter, as rising loan defaults amid a deepening housi...

Countrywide CEO Earned $132 Million In 2007

AP | Posted 05.25.2011 | Business

CALABASAS, Calif. — A securities filing shows Countrywide Financial Corp. CEO Angelo Mozilo earned about $10.8 million in total compensation and...

Countrywide Reportedly Under FBI Investigation

CNN | Posted 05.25.2011 | Business

The FBI has launched an investigation into the lending practices of battered home lender Countrywide Financial Corp., according to a report in The Wal...

CEOs Defend Their High Pay on Hill

AP | JIM ABRAMS | Posted 05.25.2011 | Business

WASHINGTON — Three corporate executives called in for a shaming by Democratic lawmakers Friday defended raking in hundreds of millions of dollar...

Countrywide to Aid More Borrowers

AP | ALEX VEIGA | Posted 05.25.2011 | Business

LOS ANGELES — Countrywide Financial Corp., under pressure to help stem growing home loan defaults, says it will expand programs to help borrower...

Countrywide Posts $422 Million Loss

AP | ALEX VEIGA | Posted 05.25.2011 | Business

LOS ANGELES — The $422 million loss Countrywide Financial Corp. reported Tuesday didn't appear to scare off Bank of America. "At this point, ev...

Bank Of America In Talks To Buy Countrywide

Reuters | John Poirier and Jonathan Stempel | Posted 05.25.2011 | Business

Bank of America Corp (BAC.N: Quote, Profile, Research) is in advanced talks to buy struggling Countrywide Financial Corp (CFC.N: Quote, Profile, Rese...

Stocks Rise On Potential Countrywide Buy

AP | Madlen Read | Posted 05.25.2011 | Business

A volatile Wall Street advanced Thursday for the second day in a row, as investors found renewed confidence in a report that Bank of America Corp. is ...

Bank of America To Buy Countrywide For $4B In Stock

AP | IEVA M. AUGSTUMS | Posted 05.25.2011 | Business

Bank of America Corp. said Friday it has agreed to buy Countrywide Financial for $4 billion in stock, a deal that both rescues the country's largest m...

Housing: The Latest Bad News

BusinessWeek | Ben Steverman | Posted 05.25.2011 | Business

In case you were still harboring a tiny bit of optimism about the U.S. housing sector, just take a look at a couple of headlines from Jan. 8. KB Home ...