mortgage lender
Countrywide's shares drop 10% after report questions BofA bid
Posted May 6th, 2008 by AdminThe bank should walk away from the deal, an analyst says. BofA says the transaction will proceed. Countrywide Financial Corp. shares took a hit Monday after an analyst questioned the value and wisdom of Bank of America Corp.'s takeover of the Calabasas mortgage lender, but Bank of America insisted the deal would go through.
S&P cuts rating on Countrywide to junk status
Posted May 2nd, 2008 by California Home LoanLOS ANGELES - Credit-rating agency Standard & Poor's today cut Countrywide Financial's rating to junk status, citing new concerns that Bank of America may not take on all of the troubled mortgage lender's debt once its proposed takeover of Countrywide closes.
Bank of America May Not Guarantee Countrywide's Debt (Update4) (Bloomberg.com)
Posted May 2nd, 2008 by Mortgage Rates AdminMay 2 (Bloomberg) -- Bank of America Corp. , the second- biggest U.S. bank, said it may not guarantee $38.1 billion of Countrywide Financial Corp. 's debt after taking over the mortgage lender, increasing the likelihood of a default.
CEO says IndyMac has 'turned a corner'
Posted May 2nd, 2008 by AdminCleaning Up Foreclosed Homes After the Mortgage Crisis (Houston Press)
Posted April 23rd, 2008 by Mortgage Rates AdminVictor Correa approached the abandoned house with caution. The lawn was overgrown, and various pieces of junk — a broken charcoal grill and rusted push lawnmower included — littered the backyard. A mortgage lender hired Correa, 25, to clean the foreclosed home. Other than the address, ...
Angels come to WaMu's rescue
Posted April 8th, 2008 by AdminA group is said to be in talks to buy a $5-billion stake in the lender. Shares of Washington Mutual Inc. soared almost 30% on Monday on news that private investors are close to a deal to pump $5 billion into the battered mortgage lender, offering hope that the financial industry's fortunes could be turning around.
Anatomy of a 'short sale'
Posted April 5th, 2008 by California Home LoanWhat is a "short sale"? It's when a homeowner facing foreclosure sells his or her property for less than what is owed to the mortgage lender.
Countrywide Financial tries to block probe
Posted March 15th, 2008 by AdminHome prices spark suit
Posted February 8th, 2008 by California Home LoanLOS ANGELES - Two California couples are suing KB Home and mortgage lender Countrywide Financial, claiming the companies schemed with real estate appraisers to inflate prices paid for homes as the housing market began to tank.
Calfiornia homeowners upset with falling prices seek class-action suit against lenders
Posted February 7th, 2008 by California Home LoanLOS ANGELES - Two California couples are suing KB Home and mortgage lender Countrywide Financial Corp.