Mr. ANGELO MOZILO (CEO, Countrywide Financial): Mr. Chairman, I was with the company 40 years.
Countrywide Financial told investors Monday to expect short-term earnings volatility as it tightened its underwriting standards.
Many of the write-downs will be made on loans originated by Countrywide Financial Corp.
Bank of America was encouraged to buy troubled Countrywide Financial, and brokerage firm Merrill Lynch.
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Shares for the nation's largest lender, Countrywide Financial, closed up 16.12% for the day.
Sandy Samuels is an executive with Countrywide Financial Corp, one of the largest U.S. lenders.
Last year, to settle similar securities fraud charge, Angelo Mozilo, the CEO of Countrywide Financial Corp.
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Lagow had filed a suit against his former employer, subprime mortgage lender Countrywide Financial, alleging appraisal fraud.
Balboa provided that coverage on mortgages serviced by the bank and by fallen mortgage giant Countrywide Financial Corp.
One investor is Paul Yanez, a loan officer at mortgage lender Countrywide Financial, who lives in Valencia, Calif.
Recently, a surge in foreclosures triggered panic and hit subprime lenders like Countrywide Financial, NovaStar Financial and New Century Financial.
Bank of America will begin next month modifying 400, 000 loans held by Countrywide Financial, the troubled lender it acquired this year.
The magazine Portfolio reports that several prominent Washington figures, including two senators, got favorable treatment from mortgage giant Countrywide Financial.
But first, this nation's largest home mortgage lender, Countrywide Financial, late yesterday said it plans to layoff between 10 and 12, 000 workers.
Bank of America, which absorbed Countrywide Financial, the poster child of bad paper, has seen its stock go up 80% in three weeks.
The agreements center on home loans that Countrywide Financial sold to Fannie and Freddie at the height of the mortgage bubble.
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Mr. SANDY SAMUELS (Executive Managing Director, Countrywide Financial Corp): From our perspective, from Countrywide's perspective, we win when we have an educated borrower.
In another notable exchange, Moynihan side-stepped a question about whether Bank of America was considering putting its troubled Countrywide Financial unit into bankruptcy protection.
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Name a bank, Wells Fargo, or a mortgage company, Countrywide Financial , or a one-time tax lien investor, and this issue affects its business.
Mortgages and the securities that packaged them were rapidly souring, hitting the biggest originator in the mortgage business, Countrywide Financial, squarely in the gut.
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On Wednesday August 15th shares in Countrywide Financial, a large American mortgage lender, fell 13% after an analyst gave warning of possible funding difficulties.
He accuses Countrywide Financial, which Bank of America bought in 2008, of selling thousands of toxic home loans to Fannie Mae and Freddie Mac.
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The sale includes mostly includes loans and mortgage-servicing rights that the bank inherited when it made the questionable decision to buy Countrywide Financial in 2008.
Countrywide Financial (nyse: CFC - news - people ) told investors Monday to expect short-term earnings volatility as it tightened its underwriting standards.
Back in the mid of the subprime crisis, Bank of America made two costly acquisitions: the purchase of Countrywide Financial and the purchase of Merrill Lynch.
Jim Johnson had received several favorable rates on loans for houses from Countrywide Financial, which is now the target of federal scrutiny in the subprime mortgage crisis.
Of course, JPMorgan is a much stronger company and does not carry the mortgage related baggage that Bank of America carries from its acquisition of Countrywide Financial.
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One investor is Paul Yanez, a loan officer at mortgage lender Countrywide Financial (nyse: CFC - news - people ), who lives in Valencia, Calif.
The share price of Countrywide Financial , America's biggest private mortgage-lender, fell by around 22% in intraday trading amid rumours it was about to run out of cash.
Countrywide Financial Corporation is cutting 5 percent of its workforce.
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