8 Articles match "Countrywide","Mortgage"

• The Best from RealtyTrac

  MORE

• From $2B Bailout to $4B Buyout at Countrywide
  
  Just late last year Bank of America infused $2 billion into the coffers of Countrywide Financial to support the floundering lender’s attempt to survive the subprime mortgage mess — which reportedly almost forced the firm into filing for bankruptcy protection earlier this week. Now with Countrywide’s stock weak and its value depressed, it is being widely reported that Bank of America is paying $4 billion in stock to buy out the company — in which it already had a 16 percent stake in convertible preferred stock after the bailout. It didn’t take long from a historical perspective.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE
• New Ultimatum Hits Lenders: Buy Loans or Foreclose
  
  It was in early October when Bank of America said it would modify 400,000 mortgages originated during past few years by its newly acquired Countrywide subsidiar
  RealtyTrac Article Library - Monday, December 8, 2008
  READ MORE
• What's Causing the Credit Crunch?
  
  A lively debate is ensuing as to why the mortgage industry is unraveling and who’s to blame for the growing credit crunch that is sabotaging the housing industry. Wall Street analysts, main street investors, corporate executives and government bureaucrats all disagree on which mortgage company will be the next to trip and fall into bankruptcy. But they all agree on one thing — the mortgage meltdown is far from over. Skyrocketing foreclosure filings on subprime loans, those made to borrowers with poor credit, have caused huge losses for Wall Street hedge funds and other buyers of securities backed by those mortgages.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE
• Good Morning Mr. Bernanke!
  
  The early morning newscast today got me wondering if Angelo Mozilo, CEO of Countrywide Financial Corp., As head of the nation’s largest mortgage lender, maybe Mozilo woke the Federal Reserve Chairman at some ungodly hour this morning from his long hibernation and complained, “Wake up and do something already!!!” The market closed Friday up about 230 points, a welcome relief after the roller coaster ride of the past few weeks due, in large part, to the uncertainty in the has Ben Bernanke’s number on his cellphone? Well, something finally clicked because Bernanke and the members of
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE
• And the Hits' Just Keep On Coming!
  
  Countrywide. All well known names in the world of finance, and all are now feeling the pinch due to an unstable real estate mortgage market and the lasting impacts the subprime mortgage crisis is having on their bottom lines. For Countrywide , the second quarter of the year was a real let down with the company drawing from an $11.5 Citigroup. Washington Mutual and Merrill Lynch.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE
• Ed McMahon Fighting Foreclosure
  
  million in mortgage loans with Recon Trust, a unit of Countrywide Financial Corp., Ed McMahon, who for decades appeared as Johnny Carson’s sidekick on “The Tonight Show,” is the latest casualty of an ever-growing foreclosure crisis that is gripping the nation. Yesterday, the Wall Street Journal reported that McMahon was $644,000 in arrears on a $4.8 million loan for a home in Beverly Hills, California.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE
• Subprime meltdown means jump in foreclosures
  
  subprime mortgage market after the bankruptcy of at least 20 lenders in the last two months, triggering a mass liquidation of securities on Wall Street and an avalanche of foreclosure activity on Main Street. Growing trouble in the subprime mortgage industry could not come at a worse time for the battered housing sector, which has been in a yearlong tailspin of stagnant sales, rising inventories, plunging prices and growing defaults. Panic is spreading in the U.S. As more lenders go bankrupt and more Americans default on home loans, a jump in foreclosures is expected.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE
• Not Enough Rope in Administration's Lifeline' Program
  
  The Administration has encouraged six of the nation’s largest lenders — Bank of America, Citigroup, Countrywide Financial Corp., which are responsible for almost 50 percent of all mortgages in this country, to throw at least a bone to as many homeowners facing foreclosure as possible. The homeowners have to be more than 90 days behind on their mortgage payments, and call in once they get a letter from their lender asking them to reaffirm that Just a few short months ago President Bush stood in front of the press and swore that it was not the federal government’s job to bail out either lenders who made bad loans or speculative homebuyers who purchased more home than they could rightly afford utilizing the so-called “exotic” or “liar loans” popularized over the past few years.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE