Thank you for revisiting you can still subscribe to my RSS feed. As Always Thank You for visiting!
Powered by Max Banner Ads
Countrywide has a VIP program. The debunked, Countrywide, who has since been purchased by Bank of America makes available to certain individuals a reduced interest rate. The individual must be a congressman, and was known inside Countrywide as the “Friends of Angelo”. The program was named this due to Chief Executive Angelo Mozilo alleged involved in the loan processing. The program was in operation in 2003 and offered to congressmen 4.5% to 4.625% loans when loans to average Americans were 4.7% to 5.3%.
The individuals in Congress who took advantage of this loan claim not to know anything about their favorable treatment in accruing the loan.
I find it highly unlikely that the congressmen did not know when some of them took out more than one loan from Countrywide during this period of time.
The overall impact to Countrywide success or failure is unknown, but the realization that the company was doing unscrupulous practices is clear.
The investigation of the allegation against Countrywide is now the troubles of Bank of America who declined to comment.
It will be interesting to see how these new allegations will play out to Bank of America receipt of future bailout monies.
Originally posted 2009-08-19 15:07:35. Republished by Blog Post Promoter
Taylor-Brown's Related Post s' Related Posts -
Mortgage - Latest News Latest News in the mortgage industry from around the blogosphere: <a href="http://www.pdxpole.com/choosing-the-right-mortgage-basic-mortgage-terms-and-features/">Choosing the Right Mortgage – Basic Mortgage Terms and Features ...</a><p>Choosing the Right Mortgage - Mortgage Basics There is an astounding range of commercially.</p> <a href="http://www.usmortgagerates.com/how-do-i-compare-mortgage-rates-184/">How Do I Compare Mortgage Rates</a><p>These must see steps will guarantee that you get...... - FDIC is Hiring Due to Loan Modifications and Bank Failures In a recent question and answer sections after a speech at the Chicago Federal Reserve, FDIC Chairman, Sheila Bair , was quoted as saying "that due to the recent bank failures the FDIC has increased its staff by 1,000 and is still hiring." Ms. Bair had some other increasing facts. ......
-
Fools Born to Buy Debt Allow Wall Street Exports to Boom With the fall of the stock market, the collapse of the economy became clear. The real driving force behind it,... -
Wachovia's Bad Day?: A Lesson in Reading Between the Lines A little disclaimer before you read on. This post is kind of lengthy. The point of this post is not...
Hi, I have read your site and the content on the site is very interesting. It would be my pleasure to keep reading. Thank you for the useful informaton.
This blog has been very helpful and has been able to provide me with much interesting and useful loan modification help information. I do think that when it comes to loan mods + the current state of the economy, it will just be too hard to trust anyone.
Hey – great blog, just looking around some blogs, seems a really nice platform you are using. I’m currently using WordPress for a few of my blogs but looking to change one of them over to a platform similar to yours as a trial run. Anything in particular you would recommend about it?
Considerably, the blog post is actually the greatest on this worthy topic. I concur with your decisions and will thirstily look forward to see your approaching updates. Saying thanks will not just be adequate, for the phenomenal lucidity in your writing. I will at once grab your feeds to stay informed of any updates. Delightful work and much success in your business endeavors! Have a nice day
Excellent read, I just passed this onto a colleague who was doing a little research on that. And he actually bought me lunch because I found it for him smile So let me rephrase that: Thanks for lunch!