Countrywide Mortgage

The man who essentially forced some of the largest banks on the planet to the $25 billion mortgage settlement, received some $15 million himself. Kyle Lagow, an appraisal manager for Countrywide Financial Corp. from 2004 to 2008, claimed the company inflated the value of homes to support bigger loans. Bank of America Corp. bought Countrywide in 2008 as mortgage defaults soared.  

Just something to keep in mind.A former Countrywide Financial Corp. manager whose fraud suit contributed to the mortgage industry’s $25 billion settlement with federal and state regulators received about $14.5 million for his efforts, his lawyers said. Kyle Lagow, an appraisal manager for Countrywide from 2004 to 2008, claimed that Countrywide inflated the value of homes to support bigger loans, according to a statement today from Seattle...  

WASHINGTON -- A whistleblower who exposed systemic fraud by Countrywide mortgage lenders called on the Department of Justice on Wednesday to prosecute her former colleagues, if not with fraud, then with covering it up."If there is insufficient legal evidence to convict these executives of what we believe are obvious crimes, then the federal government should refocus," Eileen Foster, a former Countrywide fraud investigations chief, told an...  

Throughout Rookie Roosts Week, we'll be hearing from first-time homebuyers with tales both awesome and terrible. Got a first-time homebuying story? Hit us up at the tipline. Today: Countrywide Financial's "#1 Trashman" gives you advice on avoiding the foreclosure horrors...  

Eileen Foster beamed as she accepted an award at the National Press Club in Washington for blowing the whistle on mortgage fraud at Countrywide Financial but told the crowd she was deeply disappointed. Foster, who was fired from her position as head of mortgage fraud investigations for Countrywide after uncovering evidence of fraud and urging a [...]  

Law360, New York (May 24, 2012, 5:36 PM ET) -- A California judge denied Connecticut-based Putnam Bank's bid for class action certification in its suit against Countrywide Financial Corp. on Wednesday, marking a victory for the mortgage giant in one of the ...  

Countrywide financial services director and former Halifax Bank of Scotland Intermediary managing director Nigel Stockton is a non-executive director and Zurich Independent IFA founder Dawn Pearce-Herzberg is operations director. It has recruited former ...  

Countrywide financial services director and former Halifax Bank of Scotland Intermediary managing director Nigel Stockton is a non-executive director and Zurich Independent IFA founder Dawn Pearce-Herzberg is operations director. It has recruited former ...  

The FT’s US investment correspondent Dan McCrum submits this guest post for FT Alphaville ... For $57,000 you get this only slightly rotten house in two acres of rural Middleburg, and the comfort that you are doing Goldman Sachs a solid.*  

A federal judge on Tuesday rejected Bank of New York Mellon Corp.'s (BK) request to throw out an investor lawsuit related to its role overseeing mortgage-backed securities from the former Countrywide Financial Corp.  

MBIA has sued Countrywide Financial, accusing the lender of fraudulently inducing MBIA to insure 15 separate securitizations of residential mortgages sold between 2004-2007. Bank of America acquired Countrywide in 2008. Bank of America CEO ...  

WASHINGTON (Reuters) - Eileen Foster beamed as she accepted an award at the National Press Club in Washington for blowing the whistle on mortgage fraud at Countrywide Financial, but told the crowd she was deeply disappointed. Foster, who was fired from her position as head of mortgage fraud investigations for Countrywide after uncovering evidence of fraud and urging a wider inquiry, said not enough has changed in the U.S. financial system. ...  

(Reuters) - A federal judge rejected Bank of New York Mellon Corp's bid to dismiss a lawsuit by investors over its role as trustee for mortgage-backed securities that led to an $8.5 billion settlement by Bank of America Corp. U.S. District Judge William Pauley in Manhattan said on Tuesday that bondholders who invested in 26 trusts alleged to have contained risky mortgage loans from the former Countrywide Financial Corp may pursue claims...  

Bank of America Corp. (BAC) won dismissal of a lawsuit by investors in mortgage-backed bonds that said the bank should buy back defective loans underlying more than $1 billion in securities. New York State Supreme Court Justice Barbara Kapnick ...  

Judge Dismisses Some AIG Claims Against BofA Over Countrywide BondsWall Street JournalBy Christian Berthelsen and Serena Ng A federal judge dismissed several claims in an American International Group (AIG) lawsuit against Bank of America over mortgage-backed securities originated by Countrywide Financial, saying some of the insurer's ...and more »  

Here Is The CityBank of America whistleblower receives $14.5 million in mortgage caseReutersBy Rick Rothacker (Reuters) - A former home appraiser will receive $14.5 million as part of a whistleblower lawsuit that accused subprime lender Countrywide Financial of inflating appraisals on government-insured loans, his attorneys said Tuesday.Bank of America Whistleblower Settles Claim For $14.5mHere Is The Cityall 10 news articles »  

TheStreet.comBank of America's great mortgage give-awayCBS NewsThe mortgage lending and servicing unit, that includes the former Countrywide Financial business, has begun sending letters to customers informing them that they may forgive a portion of the principal balance on their mortgage.Bank of America's Moynihan Faces Trial DeadlineTheStreet.comBank of America Investors Complain, but Approve Chief's PayNew York TimesBank of America Meets...  

What Drives People to Become Whistle-BlowersBusinessNewsDailyLagow, a former home appraiser for Countrywide Financial Corp., questioned his employer when he saw them overvaluing homes purchased with government-backed mortgages. This in turn increased the value of loans that the company sold on the secondary ...  

HispanicBusiness.comSunTrust to Settle Racial LawsuitZacks.comMoreover, Bank of America Corporation (BAC - Analyst Report) settled similar civil charges of $335 million against its Countrywide Financial unit in December 2011. We believe that such settlements provide some relief to the companies and their ...SunTrust Reaches $21M Settlement With US In Lending CaseWall Street JournalSunTrust Bank, U.S. reach settlement in discrimination caseThe...  

Malkin: Hatch's bid for seventh term full of lies against tea party opponentLubbockOnline.comChris Dodd, D-Conn., had shepherded the monstrously expensive and crony-friendly Dodd-Frank legislation through Congress and stepped down in disgrace over his Countrywide financial sweetheart deals, Hatch praised Dodd as “one of the better senators ...and more »  

Whistleblower Awarded $14.5M in Bank of America SettlementInvestorplace.comWhen Kyle Lagow noticed that his employer, Countrywide Financial, was inflating the appraisals on homes purchased with government-backed mortgages and questioned the numbers, he was fired, Reuters reports. Now he will receive $14.5 million as part of a ...