Results tagged “countrywide”

Attorney General Jerry Brown recently announced that the State of California has filed a legal suit against Countrywide home mortgage lender for deceptive lending practices that has caused thousands of foreclosures. Brown cites that Countrywide routinely failed to explain complicated and expensive mortgage terms to consumers -- a practice that encouraged borrowers to agree to completely unaffordable mortgage terms.

New News for those following the ongoing Countrywide trainwreck. As reported by the LA times on Saturday, despite the ongoing national economic worries, and the total meltdown of the company, Countrywide Executives are still set to recieve Big Bucks Big Bucks no Whammies: