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Countrywide Financial News

News on Countrywide Financial (Ticker: CFC) continually updated from thousands of sources around the net.

Tuesday Aug 26 | The Charlotte Observer

Blocking public's right to know

Like the fact that former Charlotte Mayor Patrick Cannon took bribes to help a strip club owner when a light-rail line was slated to run through his property.

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Related Topix: Banking, Bank of America, Financial Services, North Carolina, US Politics, US News, Patrick Leahy, US Senate, Democrat, Republican, John Cornyn

Mon Aug 25, 2014

Instapundit.com

How Many "Friends of Angelo" are Still in Politics? Bad...

HOW MANY "FRIENDS OF ANGELO" ARE STILL IN POLITICS? BAD NEWS FOR THE ONES WHO ARE: An Unfinished Chapter at Countrywide.

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Related Topix: Financial Services

Fri Aug 22, 2014

The Motley Fool

8 Fascinating Reads

Angelo Mozilo, the former CEO of Countrywide Financial, one of the worst culprits in the subprime mortgage bubble, made a prescient call in 1991: Cash at Berkshire Hathaway stood at just over US $55 billion at the end of June, a record high and 21/2 times the level Buffett had said in the past he liked to keep on tap to meet extraordinary claims at ... (more)

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Related Topix: Financial Services, Home, Mortgage, Personal Finance, Construction, Berkshire Hathaway, Investment Services

Thu Aug 21, 2014

Los Angeles Times

BofA to pay $16.65 billion over soured home loans in mortgage meltdown

BofA's settlement, the largest ever by a single U.S. company, consists of $9.65 billion in fines and $7 billion in aid to communities and homeowners hit hard by the housing market crash that triggered the recession.

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Related Topix: Home, Mortgage, Personal Finance, Environmental Law, Law, Banking, Bank of America, Financial Services, Calabasas, CA

Daily Kos

BOOM! Bank Of America Ordered To Pay Highest Penalty In U.S. History For Fraud & The Winner Is....

Today, the largest one-time Big Bank penalty/'settlement' for overdrawing on the American public will be paid by the second largest U.S. bank holding company, Bank of America.

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Related Topix: Prison, US News, Banking, JP Morgan Chase , Home, Mortgage, Personal Finance, Financial Services

National Mortgage News

For Moynihan: Time to Look for Growth

Brian Moynihan has led Bank of America through its darkest period, punctuated Thursday by its nearly $17 billion settlement with the Justice Department.

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Related Topix: Banking, Bank of America, Financial Services, Home, Mortgage, Personal Finance, Stroock & Stroock & Lavan LLP, Fleetboston Financial

Wed Aug 20, 2014

OregonLive.com

Bank of America reportedly agrees to pay $17 billion to deal with mortgage-abuse claims

Bank of America Corp. 's record U.S. settlement over the sale of mortgage bonds in the run-up to the 2008 financial crisis will be announced as soon as Thursday, two people with knowledge of the matter said.

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Related Topix: Banking, Bank of America, Financial Services, Home, Mortgage, Personal Finance

National Mortgage News

Countrywide's Mozilo Said to Face U.S. Suit Over Subprime Loans

Eight Reasons the Housing Recovery's Been So Slow From tight credit conditions to empty nesters, here is a litany of problems weighing on the housing market, as summarized in the minutes of last month's Federal Reserve policy meeting.

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Related Topix: Home, Mortgage, Personal Finance, Financial Services, Securities and Exchange Commission, Corporate / Securities Law, Law, US News

Silicon Alley Insider

The Feds Are Finally Going After One Of The Worst Villains Of The Financial Crisis

Countrywide Financial Corporation founder and CEO Angelo Mozilo is sworn in to testify before the House Committee on Oversight and Government Reform on Capitol Hill in Washington March 7, 2008.

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Related Topix: Financial Services, Mortgage, Personal Finance, Home

Fri Aug 15, 2014

The Charlotte Observer

The deal that cost Bank of America $50 billion – and counting

In this Feb. 11, 2009 file photo, Bank of America Chairman and Chief Executive Officer Ken Lewis, left, and other top chief executive officers of banking institutions, testify on Capitol Hill in Washington before the House Financial Services Committee.

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Related Topix: Banking, Bank of America, Financial Services, Capitol Hill (Washington, DC), Washington, DC, Home, Mortgage, Personal Finance

Thu Aug 07, 2014

FindLaw

Pay Up, BofA: Court Orders $1B in Damages as DoJ Settlement Nears

In 2008, before the Great Recession was in full swing, Bank of America bought Countrywide Financial, in efforts to solidify its position in commercial banking , according to NPR.

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Related Topix: US News, Financial Services

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