Posts Tagged ‘countrywide’

Goldman Sachs on the Pacific – Inside Countrywide with Michael Winston… A Mandelman Matters Podcast

Written on 23 Feb, 2013 at 17:16

When Countrywide had aspirations to become "Goldman Sachs on the Pacific," they recruited Michael to help them get there. They may have appeared to understand when Michael spoke of the programs he would initiate, but soon it was quite... (Continue reading)

$6 Billion in Reinsurance Kickbacks to the Banks – Un-reported, Un-Acted Upon & Un-believable

Written on 8 Sep, 2011 at 18:17

Citigroup Inc, Wells Fargo & Co, SunTrust Bank Inc. and Countrywide allegedly required reinsurance partnerships on generous terms that violated the Real Estate Settlement Procedures Act, a 1974 law prohibiting abusive home sales practices.... (Continue reading)

Tagged with: American Banker bank of america banking lobby banks insurance scheme citibank countrywide Department of Justice economic recovery elizabeth warren Fannie Mae FDIC FDIC Chair Sheila Bair Federal Reserve Chairman Ben Bernanke foreclosure crisis foreclosures Freddie Mac Goldman Sachs HAMP HUD HUD Inspector General HUD Inspector General Ken Donohue Indymac bank jpmorgan chase loan modification loan modifications Making Home Affordable Plan mandelman mandelman matters martin andelman MGIC Investment Corp Michael Stephens ml-implode mortgage crisis mortgage servicers national mortgage news one west bank RESPA Treasury Secretary Tim Geithner wall street bankers wells fargo bank

Is Bank of America Worth $200 Billion?

Written on 12 May, 2011 at 1:30

Bank of America bought Countrywide for $4 billion and change. That sounds funny to me now. You've got to admit it. The idea that someone would PAY money for Countywide has to make you giggle at least... (Continue reading)

Tagged with: angelo mozilo bailouts bank of america banking crisis banking lobby banks citibank countrywide double dip economic recovery economy FDIC FDIC Chair Sheila Bair Federal Reserve Chairman Ben Bernanke foreclosure crisis foreclosures Freddie Mac Goldman Sachs HAMP john thain jpmorgan chase ken lewis loan modifications Making Home Affordable Plan mandelman mandelman matters mark to market martin andelman merrill mynch mortgage servicers NACA one west bank recession REST Report TALF TARP Treasury Secretary Tim Geithner trial modifications wall street bankers wall street bonuses Wall Street CEO pay wells fargo bank

THEY ONCE WERE LENDERS – Understanding government’s failure to stop bankers OR scammers from destroying homeowners.

Written on 25 Apr, 2011 at 21:47

And, to add insult to injury, our government has stood by obtuse and witless as these same banks have been permitted to lie, mislead, abuse, disrespect, malign and outright torture homeowners trying to apply for a government program funded by... (Continue reading)

Tagged with: Ameriquest bank of america Beneficial California DRE California Residential Mortgage Lending Act California State Bar CDOs countrywide diana olick economy Fed Chair Ben Bernanke Federal Reserve Chairman Ben Bernanke financial meltdown foreclosures Forensic loan audits fraudulent securitization FTC glenn hubbard HAMP IndyMac kramer and kaslow Laurence Meyer Lehman Bros. leveraged banks loan modification scammers loan modifications Long Beach Savings & Loan mandelman matters MARS Final Rule mass joinder lawsuit max gardner Michael Hudson Mitchell J. Stein mortgage backed securities NACA new century obama administration Ocwen one west bank PBS News Hour phillip kramer RMBS ronald v. bank of america SB 94 sub-prime lenders TARP The Monster transamerica Treasury Secretary Hank Paulson wall street washington mutual

Bank of America’s “Tasmanian Devil” says we shouldn’t be thinking of our homes as “assets”.

Written on 18 Apr, 2011 at 22:41

Now, if all of that weren't enough to make the case for Bryan Moynihan being this month's REAR, here's what really got me started on him in the first place. Last month, at the 2011 National Association of Attorneys... (Continue reading)

If at first you don’t succeed, CRIME, CRIME again.

Written on 27 Feb, 2011 at 10:32

I'm not going to attempt to write some scathing or potentially insightful commentary about Mr. Mozilo, I'm sure that's been done many times before, and frankly... he bores me to no end. But, at the same time I felt... (Continue reading)

THE SiGNiNG… Or, Pardon me, Mr. Banker, but your REMIC is showing.

Written on 10 Oct, 2010 at 10:11

So, why didn't the bankers assign the loans to the trusts? I don't know... for sure. But I'm going to go out on a limb here and tell you it's because they wanted to borrow against them, and... (Continue reading)

Tagged with: affidavits alan grayson ally bank april charney assignments assignments to the trusts Attorney General Blumenthal Bair bank fraudulent foreclosures bank of america barney frank bond market Bush Clinton corrine brown countrywide credit markets Fannie Fannie Mae FDIC FDIC Chair Sheila Bair foreclosure freeze foreclosure mills foreclosurefraud.com fraudulent foreclosures Freddie Freddie Mac GMAC GMAC/Ally Bank Grahm Greenspan HAMP House Speaker nancy pelosi HSBC illegal notarizations investors jpmorgan chase judicial foreclosure state Leech loan modifications mandelman matters martin andelman MERS midterm elections missing assignment ml-implode Moody's NACA naked capitalism new century non-judicial foreclosure state O. Max Gardner III OCC Office of the Comptroller of the Currency ohio ag old republic national one west bank pass through certificates PNC Financial President Barack Obama Reagan REMIC trusts robo-signers robosigners Rubin securitization Summers tax reform texas AG Treasury Secretary Tim Geithner US Bank wall street bankers wells fargo bank Yves Smith

House Hearings to Answer Question: Are Loan Servicers Honoring Their Commitments to Help Preserve Homeownership?

Written on 6 Jul, 2010 at 11:06

Everything's going just fine. There are no real problems with HAMP or with the servicers who are implementing HAMP. Oh sure, there have been a few challenges, but most of them have been caused by the borrowers who... (Continue reading)

Tagged with: Assistant Treasury Secretary Herbert Allison bank of america Barbara Desoer BP citibank citimortgage countrywide David Friedman David Lowman double dip economic recovery economy Edward Pinto Fannie Mae FHA HAMP FHFA foreclosures Freddie Mac GAO george soros Gulf of Mexico HAMP HAMP guidelines hamp performance HAMP report Indymac bank jamie dimon John Mack john stumpf jpmorgan chase lloyd blankfein loan modifications loan servicers Making Home Affordable Plan mandelman matters martin andelman ml-implode Michael dell Michael Heid obama one west bank re-default risk recession Sanjiv Das Treasury Secretary Tim Geithner trial modifications trial period plans US Treasury vikram pandit Wachovia wells fargo bank

A Conversation Between MANDELMAN and a Reader About New $1 Billion Fund For Unemployed Homeowners

Written on 1 Jul, 2010 at 20:14

Everyone knows how much I love sarcasm... or at least have come to love sarcasm writing about the foreclosure crisis... and on this article I think I might have taken my sarcasm to such a level that readers, especially those... (Continue reading)

Tagged with: bank of america countrywide Fannie Mae FHA HAMP foreclosures Freddie Mac HAMP hope for homeowners Indymac bank jpmorgan chase loan modifications making home affordable mandelman matters martin andelman ml-implode mortgage refinancing one west bank Treasury Secretary Tim Geithner wells fargo bank

As Pressure Mounts, Bank of America Plans Principal Reductions for Underwater Homeowners

Written on 24 Mar, 2010 at 14:44

Bank of America will offer qualified homeowners an interest-free forbearance of principal that the homeowner can turn into forgiven principal annually over five years, provided they stay current on their mortgage payments. Over the five-year period, homeowner can bring... (Continue reading)

Tagged with: bank of america Barbara Desoer countrywide countrywide settlement HAMP loan modifications making home affordable mandelman matters martha Coakley martin andelman Massachusetts Attorney General Martha Coakley mortgages principal reductions re-default risk refinance mortgage stopping foreclosures

Investor Tired of Servicers Not Modifying Take Action

Written on 22 Sep, 2009 at 16:24

Well, as it turns out, one investor, Impac Funding/Impac Holdings, has run a calculator on this and discovered that you've been right all along. They would in fact be better off modifying... but they can't seem to get servicers... (Continue reading)

Tagged with: bank of america countrywide foreclosures GMAC Impac loan modification mandelman martin andelman

Mandelman’s Monthly Museletter – ISSUE #2.0

Written on 5 Aug, 2009 at 18:39

HERE IT IS... Issue #2 of Mandelman's Monthly Museletter! INSIDE THIS MONTH'S ISSUE: Scammer Servicers, JPMChase Mods Begin at Home, The Servicers Pledge, Countrywide's Lying Again, Barney's Pissed, 1/10 in CA, Banker Bonuses, FTC's Hunt, Mod Performance, New... (Continue reading)

Tagged with: bonuses countrywide economy FTC HUD loan modifications loan servicers mandelman Mandelman's Monthly Museletter martin andelman ml-implode

Former sub-prime lenders are back to profit off the mess they made. Seriously?

Written on 9 Jun, 2009 at 15:22

Apparently, they were not quite satisfied with the hundreds of millions they stole... I mean made, so they've launched a company that will buy distressed mortgages from banks and the government at a discount, modify the loans so that the... (Continue reading)