Foreclosures and put-backs are part of the same failed practices in mortgage underwriting.
Mortgage bank alleged to have exposed investors to excessive risk
More Countrywide financial articles
WASHINGTON, DC - The US Securities and Exchange Commission (SEC) has charged Angelo Mozilo, the former chief executive officer of Countrywide Financial, with securities fraud and insider trading. Two other ex-Countrywide executives, former chief operating...
Bank of America (BofA) posted profits of $3.41 billion for the second quarter, despite recording combined writedowns of $4.84 billion in its credit book and elsewhere for the same period.
Amid disappointing third-quarter results, credit default swaps (CDSs) referenced to Bear Stearns and Lehman Brothers ranked among the most active in CDS trading in the US in September, according to a monthly report by New York-based inter-dealer broker...
Dealers believe the $2 billion investment by Bank of America in troubled California-based mortgage lender Countrywide Financial helped ease credit worries during morning trading in Europe.
Kevin Mahon, Florida-based senior vice-president at Countrywide Securities, has called upon the US structured products industry to work more closely together to provide greater transparency for investors. “Dealers need to clarify in plain English what...
Credit default swaps (CDS) referenced to financial services firms, banks and telecom companies were among the most active in April trading, according to a monthly list produced by GFI, a New York-based interdealer broker.
In response to industry fears of a collateral crunch, regulators have revised the proposed rules on margining for uncleared over-the-counter (OTC) derivatives.You can find out more by downloading this white paper here.
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