Countrywide Mortgage

A homeowner in Texas has slapped a class-action lawsuit against a North Texas appraisal company, home builder KB Home and Countrywide Financial, claiming the entities concocted a scheme to control the appraisal process on various homes and inflated prices, potentially costing thousands of homeowners.  

Our colleague Rick Green writes today about the Countrywide Financial loan situation in the U.S. House of Representatives. The details are at http://blogs.courant.com/rick_green/2009/10/countrywide-financial-chris-dodd-chris-murphy-edolphus-towns.html  

The House Oversight and Government Reform Committee majority and minority are negotiating the details of a subpoena for documents related to Countrywide Financial Corp.'s "VIP" mortgage program, a step forward in a probe that has been stalled by partisan squabbling.  

A decision yesterday by a three-judge panel of the U.S. Third Circuit Court of Appeals in Philadelphia allows lawyers for a group of homeowners nationwide to continue a class-action suit against Countrywide Mortgage Corp. and its affiliated reinsurer that alleges violation of the anti-kickback provision of the Real Estate Settlement and Procedures Act.  

The House Oversight committee is investigating the role of the nation's largest mortgage companies in the financial crisis. Under pressure from Republicans, a House committee has subpoenaed documents related to Countrywide Financial Corp.'s VIP program, which offered preferential treatment to well-connected or powerful mortgage customers.  

Senators Chris Dodd and Kent Conrad lawyered up when the Senate ethics committee asked about their VIP loans from Countrywide Financial. But the sweetheart Senators may not be able to stop another look at their dealings with the subprime mortgage factory.  

U. S. Rep. Christopher Murphy of the 5th Congressional District says that the House subpoena of the highly controversial Countrywide Financial VIP loan program is "the right thing to do.'' Our colleague, Rick Green, has the details at http://blogs.courant.com/rick_green/2009/10/dodd-countrywide-house-probe-mortgage-industry.html Murphy's comments came not long after his Republican opponent in the 2010 race, Justin Bernier, called for him to...  

Susan Crabtree of The Hill has the scoop: "Two junior Democrats are urging their leaders to open an investigation into the Countrywide VIP mortgage program. Rep. Paul Hodes (N.H.), who is in his second House term, and freshman Rep. Mike Quigley (Ill.) called on the House Oversight and Government Reform panel to initiate an investigation into Countrywide Financial's 'Friends of Angelo' VIP program and whether it was used to gain influence over...  

U.S. Rep. Chris Murphy tells me that the House Committee on Oversight and Government Reform will launch a wide-ranging probe into the lending practices of the mortgage loan industry. The committee will subpoena records from Countrywide Financial, the lending company at the center of controversy since the revelation that Sen. Chris Dodd was among the many who recieved loans under the company's infamous "Friends of Angelo" VIP lender initiative...  

Let's see, if Chris Murphy had opposes efforts to further investigate the Countrywide mortgage mess in Congress, what do you think the comically predictable GOP Chair Chris Healy would say? So when Murphy says he supports a deeper Countrywide probe? Why Healy says he's a backstabber, of course: Christopher Healy Not too long along, Congressman Chris Murphy was hanging with Chris Dodd, wearing a big smile. Now Murphy is doing what all...  

It looks like Republican Rep. Darrell Issa has won a couple of key allies in his creative campaign to make Oversight Committee Chairman Ed Towns subpoena potentially damaging records from defunct mortgage lender Countrywide. Those would be Towns’ Democratic allies, 2nd term Rep. Paul Hodes of New Hampshire and Mike Quigley of Illinois, who won Rahm Emanuel’s seat in April. Towns has resisted subpoenaing the “Friends of Angelo” Mozilla VIP...  

[It seems like we stopped making fun of Countrywide and Angelo Mozilo years ago, but, apparently it was only about two years, this October 03, 2007 item being a prime example of why they were such an easy target.]Does Countrywide Financial (NYSE:CFC) have a blog? If they do, a comment similar to this one is likely to appear there sometime in the weeks ahead:Hey Nation! It’s not too often I get really excited about a bracelet–what usually...  

I missed this item from the WSJ yesterday: The discovery that Countrywide Financial Corp. recorded phone conversations with borrowers in a controversial mortgage program that included public officials -- and that those recordings have been destroyed -- has prompted new congressional calls for more information about the program.Rep. Darrell Issa of California, the ranking Republican on the House Oversight and Government Reform Committee, is...  

Senator Chris Dodd (D, Irish Mansion CT) is having a time of it with this sweetheart Countrywide loans thing.  First off, the Senate Ethics investigation somehow managed to avoid going after him for his activities, which meant that Dodd thought that he could start repairing the damage to his fundraising reputation (H/T: Instapundit): U.S. Sen. Christopher J. Dodd is saying it’s time to move on from the long-running Countrywide Financial VIP...  

Washington PostLewis' choiceAsia Times Online... purchase of Countrywide Financial, one of the institutions at the core of all the pernicious malfeasance we have come to know as the subprime market. ...ANALYSIS-BofA's legal problems growing, may push exec changeForbesall 1,151 news articles »