(Reuters) – Countrywide Financial’s lawsuit losses could compel parent Bank of America Corp (BofA) (BAC.N) to put up the unit on the bankruptcy block, Bloomberg reported citing four people with knowledge of the firm’s strategy.
The bankruptcy option exists because the bank maintained a separate legal identity for the subprime lender after buying it in 2008, said the people, who declined to be identified because the plans are [...]
We hardly needed confirmation that a) Bank of America is a den of criminals and thieves, that b) its toxic $1.3 trillion mortgage division, better known as Countrywide, is an even scarier and more putrid den of criminals and thieves, and that c) it retaliates against anyone who dares to remind the bank that there are such things as laws, and the aforementioned criminals [...]
I thought I had to share considering the housing numbers being miserable. I live in West Texas, small town…getting shafted by local taxes on the increase and no sense of reality city council who keeps waving the flag “We are not in a recession”. Wells Fargo is the loan processor for my FHA mortgage, I was behind on the mortgage from July and August. I paid it by phone Friday [...]