Mississippi Mortgage Company Lays Off Hundreds
Officials say one of the largest privately owned mortgage companies in Mississippi has laid off about 300 employees in several states after Countrywide Financial Corp.
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#1 Feb 10, 2009
Countrywide continues to push originations from mortgage lenders and provide them line's of credit to promote and sell CW products including utilizing there own designed underwriting engine to approve loans. Then the loans go bad (which are Countrywide products and propriatary IT underwriting system Hello?) they blame the lenders or borrowers. Then they put the lenders out of business by cutting of lines of credit or requesting loan repurchases when buyers default. When is the government going to look into the deceptive and unfair pratices of Countrywide to not only consumers but there business partners too? They should be sued for misleading and deceptive business practices. Class Action?
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