Ciao Countrywide

Bank of America is spiking one of the brands that we'll look back and associate primarily with the housing boom.
Lewis expressed disappointment at consumer surveys conducted by Bank of America showing a rapid disappearance of the goodwill attached to the Countrywide name. "Even when we bought them, they tested well," Lewis said in a recent interview. "But the negative press, just time and time again, took it down. So they went from first to last" in the surveys.
Apr 27, 2009 11:48 AM

Oh, the irony...

Regional lender Realty Mortgage, which runs six offices in Middle Tennessee, appears to be on its last legs after Countrywide froze a line of credit. Yeah, the Countrywide saved from the fire by BofA a year ago.
Feb 9, 2009 3:25 PM

Attorney General reaches agreement with Countrywide

Via press release:
Tennessee Attorney General Bob Cooper today announced a settlement with Countrywide, the nation’s largest mortgage lender and servicer, to resolve complaints of predatory lending. The Agreed Final Judgment, which Attorney General Cooper filed in court today on behalf of the Tennessee Division of Consumer Affairs, will provide for loan modification eligibility for an estimated 6,900 Tennessee borrowers and an estimated $4 million in other economic relief to troubled Tennessee borrowers. “We are pleased that this agreement can bring relief to eligible Countrywide borrowers who are on the brink of losing their homes or to some who have already lost their homes,” said Attorney General Cooper. “We also hope this case will be a warning to those unscrupulous lenders who would mislead consumers into committing to loans they ultimately could not afford.” Countrywide is currently in the process of identifying and notifying eligible consumers about loan modifications. Countywide consumers can also call Countrywide toll-free at (800) 669-6607 to find out now if they are potentially eligible for a loan modification or other programs.
For more information regarding the lawsuit and agreement click this link.
Jan 22, 2009 10:34 AM