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A collection of news and information related to Countrywide Financial Corp. published by this site and its partners.
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Enron's Jeff Skilling doesn't deserve a break
As if you didn't know this already, we're coddling criminals in America. By that I don't mean the petty drug dealers, three-strikes necklace-snatchers and other mooks filling up our state prisons; many of them are doing hard time. I'm talking about...
Tags: Defendants, Conservation, Theft, Punishment, Litigation
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BofA cuts 2 million customers loose
It's long been a basic tenet of the business world: You give us more business, we'll reward your loyalty with better deals. That's how cable companies operate with their service packages. That's how phone companies work. And until now, that's pretty...
Tags: Loans, Finance, Mortgages, Marketing, American Express Company
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BofA settles another mortgage lawsuit but is facing a new one
NEW YORK — As Bank of America Corp. pulls itself free from a swamp of mortgage liabilities, new troubles keep threatening to suck it back under. BofA agreed to settle a big insurer's claims over faulty mortgage bonds for $1.7 billion Monday. But...
Tags: Banking, Mortgages, Insurance, Kamala D. Harris, Financial and Business Services
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BofA quadruples its profit but disappoints investors
Bank of America Corp. quadrupled its first-quarter profit, reducing expenses and loan losses and reporting better brokerage and investment banking results, but continued to be bogged down by its mortgage operations, disappointing investors. Trying to...
Tags: JPMorgan Chase & Co., Services and Shopping, Finance, Banking, Mortgages
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Letters: Numbers don't tell the full story about fraud
Re "Ex-KPMG accountant is charged," Business, April 12 For the 25 years I ran the California Community Foundation, KPMG was our auditing firm. For 10 of those years, our auditor was Scott London, the former KPMG auditor accused of fraud. I knew London...Tags: KPMG, Trials, Accounting and Auditing, Insider Trading, Scott London
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'Connections' ad campaign will present a humbler Bank of America
Can the ultimate too-big-to-fail bank persuade customers that it is humble? A new Bank of America Corp. ad campaign is taking on that task, with the tag line "Life's Better When We're Connected" replacing “Bank of Opportunity.” “We...
Tags: Banking, National Collegiate Athletic Association, Bank of America Corp., Advertising, Citigroup Incorporated
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Fannie Mae posts record annual profit of $17.2 billion
WASHINGTON — Taxpayer-owned Fannie Mae and Freddie Mac are back in the black, but it's unlikely to keep the nation's housing finance giants from being dismantled. Boosted by the recovery in the housing market, Fannie Mae on Tuesday reported a...
Tags: Federal Housing Administration, Banking, Federal Reserve, Realty, Mortgages
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BofA pays $165 million to settle mortgage claims by credit unions
In yet another home lending legal settlement, Bank of America Corp. will pay regulators $165 million related to losses that big credit unions suffered on mortgage-backed securities. The settlement, announced Tuesday, stems from efforts by the National...
Tags: Deutsche Bank AG, Litigation, Mortgages, Bank of America Corp., Citigroup Incorporated
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Rescued Fannie Mae posts record profit as housing market rebounds
WASHINGTON -- Bailed-out Fannie Mae on Tuesday reported a record $17.2 billion profit for 2012, driven by the housing-market recovery and a big settlement with Bank of America related to soured mortgages during the subprime boom. The housing finance...
Tags: Federal Bailout Funds, Finance, Banking, Mortgages, Freddie Mac
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PennyMac, headed by former No. 2 at Countrywide, files for IPO
PennyMac Financial Services Inc., the 5-year-old mortgage company founded by former Countrywide Financial Corp. President Stanford L. Kurland, plans to go public on the New York Stock Exchange. PennyMac, which makes, buys, sells and services...
Tags: Federal Housing Administration, U.S. Securities and Exchange Commission, Finance, Mortgages, Freddie Mac
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KB Home teams with Nationstar Mortgage to offer home buyers loans
KB Home and Nationstar Mortgage Holdings Inc. are forming a joint venture that will offer home loans to KB customers across the country, so they can shop for a house and a mortgage at the same time. Nationstar, of Lewisville, Texas, agreed last year...Tags: Restructuring and Recapitalization, Loans, Real Estate Buyers, Joint Ventures, Finance
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Bank of America, Citigroup earnings disappoint investors
NEW YORK — Bank of America Corp.'s and Citigroup Inc.'s lackluster earnings led Wall Street to question how long it will take two of the country's biggest banks to emerge from the shadow of the financial crisis. While BofA's fourth-quarter...
Tags: Banking, Litigation, Mortgages, Insurance, Companies and Corporations
May 17, 2013
|Column| Los Angeles Times
May 14, 2013
|Column| Los Angeles Times
May 7, 2013
|Story| Los Angeles Times
Apr 17, 2013
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Apr 16, 2013
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Apr 5, 2013
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Apr 2, 2013
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Apr 2, 2013
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Apr 2, 2013
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Feb 8, 2013
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Jan 22, 2013
|Story| Los Angeles Times
Jan 17, 2013
|Story| Los Angeles Times
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