ADVERTISEMENT



Google       

Home -> Law Blog Directory -> Loan Modification Blogs -> Mortgage Lender Implode-o-Meter

OR PHONE (866) 635-1838 for Bankruptcy Help, (866) 635-6190 for Divorce,
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense

Find a Local Lawyer

Bankruptcy (866) 635-1838
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402

Bookmark

Loan Modification

: Mortgage Lender Implode-o-Meter

Mozilo Saw Countrywide ?Flying Blind,? Dumped Stock, SEC Claims

By Implode-Explode Heavy Industries

ADVERTISEMENTS

The day after Countrywide Financial Corp. Chief Executive Officer Angelo Mozilo arranged to start $139 million in stock sales, he told two top deputies there was ?no way? to value one of its most popular mortgages.

?We are flying blind on how these loans will perform in a stressed environment of higher unemployment, reduced values and slowing home sales,? he wrote in a 2006 e-mail released yesterday by the Securities and Exchange Commission. ?We have no way, with any reasonable certainty, to assess the real risk of holding these loans on our balance sheet.?

Full post as published by Mortgage Lender Implode-o-Meter on June 05, 2009 (boomark / email).

Bloggers, promote your law blog by nominating your blog for inclusion in USLaw.com's Law Blog Directory and RSS Reader. Benefits described.
Related Law Articles

Stock Splits and Reverse Stock Splits
How splits can affect stock value

Paxil Lawsuit
Paxil Claims, Lawsuits, and Injuries

Lawsuits and Settlements

United Airlines Discriminates Against Blind Passengers
United Airlines Discriminates Against Blind Passengers

Target, National Federation of the Blind
Settle Class Action for $6 Million

Countrywide Financial Corp
Served with Two Lawsuits

False Claims
Attorney Robert Arledge ordered to pay $5.8 million after making false Fen Phen settlement claims.

Countrywide Financial Corp.
allegedly charged borrowers improper foreclosure fees.

Countrywide
Faces Class Action over Strong-Arm Tactics used to Intimidate Appraisers

Related Searches

























































































































US Law
#1 Online Legal Resource













Your Blog Subscriptions
Subscribe to blogs

10,000+ Law Job Listings
Lawyer . Police . Paralegal . Etc
Earn a law-related degree
Are you the author of this blog? Adding USLaw.com to your Blogroll increases relevance. You qualify to display a USLaw Network badge.
Suggest changes to this blog's description or nominate another for inclusion. Register for updates.


Practice Area
Zip Code:

Contact a Lawyer Now!






0.0154 secs (new cache)