Temporary layoffs are set to start this week for 700 Wayne County workers. The layoffs are scheduled to run Wednesday through July 11 and Aug. 27 through Sept. 12. Services unavailable till July 12 include marriage licenses, birth and death records and concealed weapons permits.
County Executive Robert Ficano said last month he acted after talks with the American Federation of State, County and Municipal Employees union didn't yield concessions. The workers include road crews, health...Read Full Story
Bank of America is in advanced talks to acquire Countrywide Financial , the nation's No. 1 mortgage lender, the Wall Street Journal reported. Two people familiar with the matter said a deal could occur very soon, the Journal said, but it also cautioned that any agreement could be delayed or fall apart altogether. Countrywide shares have tumbled recently on concern it might not survive the nation's housing crisis. On Wednesday, the company said it made more loans than expected in the fourth...Read Full Story
Schumer Urges Review of Countrywide Financial Collateral
Senator Charles Schumer has urged the regulator of the Federal Home Loan Banks to undertake a special review of the loans that Countrywide Bank has pledged to collateralize $51 billion in advances from the FHLBank of Atlanta.
The thrift subsidiary of Countrywide Finance increased its advance borrowings in the third quarter by $28.2 billion, up nearly 80% from those of the previous quarter.
In a letter to the Federal Housing...Read Full Story
WASHINGTON — A House committee wants to interview the former Countrywide Financial CEO in its investigation of discount mortgages given to members of Congress and other government officials. The Associated Press on Wednesday obtained a letter ...
House investigators want to interview Angelo Mozilo, the former Countrywide Financial Corp. chief executive whose VIP program gave discounted mortgages to member of Congress, other government officials and influential people who could help the company.
McKeon received a $315,000 mortgage refinance in 1998 as his family-owned business, Howard & Phil's Western Wear ... including fellow California Republican Elton Gallegly, broke rules against gifts when they received loans as part of a VIP ...
Documents detail the terms of a discounted mortgage loan received by U.S. Rep. Howard McKeon from the now-defunct Countrywide Financial Corp. under a VIP program, according to a published report. McKeon received a $315,000 mortgage refinance in ...
The mudslinging between MBIA and Bank of America continues with MBIA asking a judge to compel Bank of America to disclose Countrywide Financial documents that allegedly show aggressive lending at the subprime lender despite deteriorating credit standards.
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Loretta E. Lynch, U.S. Attorney for the Eastern District of New York announced the settlement of claims her office had brought against Bank of America, Countrywide Financial Corporations and some of its affiliates for underwriting and origination mortgage ...
Feb. 3 (Bloomberg) -- Bank of America Corp. won dismissal from Allstate Corp.’s lawsuit over the insurer’s alleged losses from $700 million in mortgage-backed securities purchased from Countrywide Financial Corp. Bank of America, as a ...
Countrywide Financial is the nation's largest mortgage lender. Check out business news and breaking stories about Countrywide in the wake of the downturn in mortgage lending.
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CNBC - The Federal Reserve approved a half-percentage point cut in its discount rate on loans to banks Friday, a dramatic move designed to stabilize financial markets roiled by a widening credit crisi