Countrywide Watch
Countrywide Financial Corporation is synonymous with home lending in America. The company ranks as the nation’s largest originator and servicer of home loans. Its aggressive subprime lending has also made it synonymous with the mortgage meltdown, as its customers face rising defaults and foreclosures, in large part because of the company's lending practices.
In the Courts
Countrywide Lawsuits: Legal complaints against top lender highlight subprime's problems |
Research
New! Unfair and Unsafe: New CRL analysis finds Countrywide targeted borrowers for abuse |
HIGHLIGHTS
California sues Countrywide for Mortgage Deception
California Attorney General Edmund G. Brown Jr. today sued Countrywide Financial, its chief executive Angelo Mozilo, and president David Sambol, for engaging in deceptive advertising and unfair competition by pushing homeowners into mass-produced, risky loans for the sole purpose of reselling the mortgages on the secondary market. Read the AG's press release.
Illinois files lawsuit against Countrywide
The complaint alleges that Countrywide engaged in unfair and deceptive conduct on a large scale in creating, originating, marketing and servicing unnecessarily risky and costly mortgage loans for Illinois homeowners. Read the press release. |
HEADLINES
More Mortgage Headlines |
