6 Articles match "Countrywide","Report"

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• 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
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• What's Causing the Credit Crunch?
  
  Countrywide Financial Corp., mortgage lender, reported that foreclosures reached a five-year high in July. And this week Countrywide said it was having trouble borrowing money on a short-term basis, sparking fears about the possibility of a Countrywide bankruptcy. This unusual step taken by Countrywide only fans the fears about the problems facing lenders. 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,
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Good Morning Mr. Bernanke!
  
  The early morning newscast today got me wondering if Angelo Mozilo, CEO of Countrywide Financial Corp., According to this morning’s press reports the Fed has also injected billions of dollars into the nation’s economy in the past week alone to quell both building fears of tightened credit standards nationwide and the turmoil currently disrupting financial markets around the world. Still, this comes a day after Countrywide Financial announced it was going to have to dig has Ben Bernanke’s number on his cellphone? As head of the nation’s largest mortgage lender, maybe Mozilo
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Ed McMahon Fighting Foreclosure
  
  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 in mortgage loans with Recon Trust, a unit of Countrywide Financial Corp., million loan for a home in Beverly Hills, California. The 85-year old McMahon fell and broke his neck 18 months ago and defaulted on $4.8
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• And the Hits' Just Keep On Coming!
  
  Countrywide. For Countrywide , the second quarter of the year was a real let down with the company drawing from an $11.5 As for Merrill Lynch , a release distributed Friday by the company said it also expects to report a loss for the third quarter. Citigroup. Washington Mutual and Merrill Lynch. All well known
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Subprime meltdown means jump in foreclosures
  
  reported big losses from loan defaults due to sagging home prices and higher interest rates. As the lenders brace for more trouble, even solvent lenders — including Ameriquest, Countrywide, Novastar and H&R Block’s Option One Mortgage — are feeling the pain from rising loan defaults made to people with spotty credit. Panic is spreading in the U.S. 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.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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