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2 Feb 2008, 1:45 pm
For banking law geeks, this is a question governed by 12 USC 1842 and the definitions in 12 USC 1841. [read post]
1 Feb 2008, 3:56 pm
I've been told, for example, that Countrywide has divided geographic areas into 5 categories, with level 5 being the areas most in danger of further trouble (just like a hurricane index!) [read post]
30 Jan 2008, 4:06 am
Countrywide Financial, the mortgage lender and loan servicer, reported a fourth-quarter loss of $422 million Tuesday, but the results were not expected to hinder its proposed $4.1 billion takeover by the Bank of America. [read post]
29 Jan 2008, 7:21 am
Then, in the nick of time, Bank of America swooped in, announcing on January 10 that it had agreed to buy Countrywide for $4.1 billion. [read post]
28 Jan 2008, 4:43 am
The cash pile that Countrywide Financial’s chief executive, Angelo R. [read post]
27 Jan 2008, 10:23 pm
" I'm sure it's purely coincidental that the expansion of the lawsuit follows so closely on the heels of Bank of America's recent announcement that it plans to buy Countrywide. [read post]
22 Jan 2008, 8:20 am
Proxy access proposals have been filed at lender Countrywide Financial, E*TRADE Financial, JP Morgan Chase, and Bearn Stearns, proponents say. [read post]
22 Jan 2008, 7:56 am
Last week Countrywide Financial filed its merger agreement with Bank of America. [read post]
16 Jan 2008, 7:57 am
By paying huge bonuses on the basis of short-term performance in a system in which negative bonuses are impossible, banks create gigantic incentives to disguise risk-taking as value-creation. [read post]
15 Jan 2008, 4:40 am
Fears that the troubled mortgage lender Countrywide Financial has been on the verge of bankruptcy were due to unfounded rumors, Bank of America’s chief executive, Kenneth Lewis, said Monday. [read post]
14 Jan 2008, 1:26 pm
Some quotes:Today Law Blog colleague Amir Efrati reports that more judges overseeing those cases are raising concerns about the big mortgage lender ahead of its planned acquisition by Bank of America. * * * Countrywide's errors include charging the borrowers improper and unsubstantiated fees; inflating what borrowers owe in filings with the court; and applying payments borrowers made after filing for bankruptcy toward pre-bankruptcy… [read post]
14 Jan 2008, 7:36 am
On Friday, Bank of America (BAC) announced that it was acquiring Countrywide Financial (CFC) in what is either a fire-sale price of $4 billion, or still too much, based on the problems Countrywide faces. [read post]
14 Jan 2008, 4:36 am
Lewis's bets match the one he placed on Friday, when Bank of America announced it was buying Countrywide Financial, the mortgage giant brought to its knees by the weakening housing market and its own [...] [read post]
14 Jan 2008, 12:00 am
Bank of America to Buy Countrywide The Deal Bank of America agreed Friday to buy troubled mortgage lender Countrywide Financial Corp. for about $4 billion in stock, another sign the banking market is slowly mopping up its subprime mortgage mess. [read post]
13 Jan 2008, 6:41 am
Today Law Blog colleague Amir Efrati reports that more judges overseeing those cases are raising concerns about the big mortgage lender ahead of its planned acquisition by Bank of America. [read post]
12 Jan 2008, 11:00 am
Interesting article on Fortune: BofA's Awesome Countrywide Tax Break, by Allan Sloan: Guess who's helping Bank of America pay for its $4.1 billion purchase of Countrywide Financial? [read post]
11 Jan 2008, 4:55 pm
  Everyone has their eyes on Bank of America’s takeover of Countrywide, which was announced today. [read post]
11 Jan 2008, 4:54 pm
Why can't one of the nation's largest banks look in its records and produce evidence that it did what it says it did? [read post]