T-minus ? until Countrywide goes under.. . .

NEW -> Contingent Buyer Assistance Program
>"He meant "No one with any ability to do anything about it.""

>>That isn't true either...

Maybe he meant "no one in his inner circle of kool-aid dealers..."?
 
"Indications from rated banks in the past few weeks suggest that home equity delinquency rates are rising at a far more rapid pace than many had anticipated," Fitch said in a statement.

"In reviewing large banks with high home equity exposure, Fitch believes that Countrywide's portfolio characteristics are consistent with those that are exhibiting more stress," the rating agency said.

Fitch cut Countrywide two notches to "BBB-minus," from "BBB-plus."

http://www.reuters.com/article/FSCONS/idUSN1223191820080312
 
Countrywide is on the list of financial instituions that can go to the Federal Reserve's new TSLF and exchange MBS for treasuries.
 
The new TSLF's are only taking AAA rated paper. The problem is that standards of what qualifies as AAA deteriorated towards the end of the bubble. (Or even now, MBIA and Ambac are still AAA rated)
 
I am still watching the meltdown of CFC. Looks like its going into the Three`s today. All thats lefts is the Two`s and One`s now.

Just can see BAC following up with the purchase now. Heck they should have had the FED guarantee the deal like Morgan did with BSC. So nice to back up a deal with TaxPayers Money.
 
He has lost some color now that you mention it. Here is note of interest. One of his long term friends and the second in command was a guy named Stan Kurland. He was the CFO and at one time President of Countrywide. He left CFC and sold his shares in 2006 after 28 Years with Mozilo.

http://about.countrywide.com/PressRelease/PressRelease.aspx?rid=903291&pr=yes

Well he started a new Company. Penny Mac. Making money on the very loans he helped originate at CFC.

http://money.cnn.com/2008/03/24/news/companies/pennymac_mortgages.ap/index.htm?section=money_news_companies

I always wondered when he left CFC if it was the begining of real trouble for Mozilo. Looks like I was right. I wonder if they are still buddies ?
 
So he's using his undeserved millions on the other side of the fence now with lots of others? And he didn't do anything wrong?

And he doesn't deserve the perp walk, why? Are there internal memos from these guys saying what the company is doing is a BAD THING and we should stop immediately?

Hah. I hope at the very least these people lose their shirts.
 
Side by side:

mozilo_dark.jpg
mozilo_light.jpg


Maybe he bought a hat?
 
I don't see those prominent age spots anymore, I'm guessing a chemical peel. OR his PR people told him to tone it down because he looked so outrageous.
 
Maybe he drinks too much carrot juice? Seriously, I heard of that happen.ing Beta carrotine is orange (hence the color of carrots.

It's harmless, unless you count being made fun of by IHB'ers as harmful.
 
CFC now has 4405 California REO's on it's books.....six in Irvine. REO countrywide

IRVINE

10 COLUMBIA ,

IRVINE , CA 92612

ORANGE

Condo

SANDRO SILES

714-396-9052

request info

$374,900

IRVINE

25 HEATHERGREEN ,

IRVINE , CA 92614

ORANGE

Condo

JERRY THOMPSON

949-552-6700

request info

$467,900

IRVINE

30 CRIMSON ROSE ,

IRVINE , CA 92603

ORANGE

PUD

SIGGY OLSON

949-413-2689

request info

$1,476,900

IRVINE

3238 WATERMARKE PLACE ,

IRVINE , CA 92612

ORANGE

Condo

JIM CALAHAN

949-581-1100

request info

$294,900

IRVINE

3439 WATERMARKE PLACE ,

IRVINE , CA 92612

ORANGE

Condo

ARNA FREEDMAN

949-705-6954

request info

$329,900

IRVINE

41 ROSE TRELLIS ,

IRVINE , CA 92603

ORANGE

PUD

SIGGY OLSON

949-413-2689

request info

$1,369,900
 
You must log in or register to reply here.
Back
Top