Tag: Bank of America Home Loans
Angelo Mozilo Speaks: No Regrets at Countrywide
Six years after he lost control of the largest mortgage lender in the U.S., and days after news that the U.S. Attorney’s Office in...
The Deal That Cost Bank of America $50 Billion – and...
Bank of America’s mortgage business has lost more than $50 billion since the Charlotte bank bought Countrywide Financial for $2.5 billion, according to an...
An Unfinished Chapter at Countrywide
Is Angelo R. Mozilo in the cross hairs again? Mr. Mozilo, the co-founder and former chief executive of Countrywide Financial, has largely escaped accountability for...
In a Bank Settlement, Don’t Forget the Bulldozers
A win-win. That’s how people on both sides of the negotiating table will undoubtedly characterize the long-awaited, $16 billion-plus mortgage settlement that Bank of...
China’s Brewing Subprime Crisis
China's infamous "ghost cities" are even scarier than they sound. As home prices across China have fallen 10.2 percent in the first five months of...
How to Thwart Another Predatory Housing Crisis
Ten years ago, non-profit organizations the Greenlining Institute and Operation HOPE convened fifteen major banks—including Countrywide Financial and World Savings Bank—to urge restraints on...
BofA Said to Face Three More Probes of Mortgage-Bond Sales
BofA Said to Face Three More Probes of Mortgage-Bond Sales Bank of America Corp., sued by U.S. attorneys in August over an $850 million...
Why Judges Are Scowling at Banks
LAST week, for the first time since the financial crisis, the government faced off in court against a major bank over lending practices during...
BizPerspectives: Rats at Bank of America
Chief Executive Ken Lewis had announced a deal to buy Countrywide Financial in a fire-sale deal for $4.1 billion, an acquisition that had the...
Shareholders: Countrywide Board Should Face Investor Claims
Former Countrywide Financial Corp. directors, including ex-Chief Executive Officer Angelo Mozilo, should be forced to face claims that they misled investors about the quality...
