Countrywide VIP mortgage program investigation goes dark

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The Department of Justice today filed its largest residential fair lending settlement in history to resolve allegations that Countrywide Financial Corporation and its subsidiaries engaged in a widespread pattern or practice of discrimination against qualified African-American and Hispanic borrowers in their mortgage lending from 2004 through 2008.

Modified seriously delinquent loans hold strong during mortgage crisis Morgan Stanley revises house prices downward, again house. push stock prices lower." "Our thoughts on Sunday’s news that trade talks between the US and China have taken a turn for the worse. The news comes at a time when the US equity market has.Serious Delinquency Rates Tick Up By Michael Neal on February 21, 2017 (). Serious delinquency rates on 1-4 family mortgages rose over the 4 th quarter of 2016 from the previous quarter. According to the National delinquency survey (nds) released by the mortgage bankers’ association (mba), the proportion of mortgages seriously delinquent, those that are 90 or more days delinquent or.

Investigation finds some Fannie Mae officials got the red. – An investigation led by Darrell E. Issa (R-CA), Ranking Minority Member of the House Committee on Oversight and Government Reform, has uncovered a link between high ranking officials of Fannie Mae and Countrywide. The investigation has revealed documents that Countrywide established a VIP section for the purpose of granting discounted mortgages to a select list of homebuyers, many of which.

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A Democratic committee chairman overrode his own subpoena three years ago in an investigation of former subprime mortgage lender Countrywide to exclude records showing that he, other House members and congressional aides got VIP discounted loans from the company.

How the roof fell in on Countrywide.. then sold their loans to bigger lenders – began to go under, Countrywide ramped up its business of buying loans.. "Countrywide is a mortgage.

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Bank of America Home Loans is the mortgage unit of Bank of America.In 2008, Bank of America purchased the failing Countrywide Financial for $4.1 billion. In 2006, Countrywide financed 20% of all mortgages in the United States, at a value of about 3.5% of United States GDP, a proportion greater than any other single mortgage lender.