For years and years, Countrywide Loans has been known as one of the most solid loaning institutions in the world. In 2007, Bank of America bought Countrywide Loans for the estimated price of $2 billion and brought the company under its umbrella corporation. Then, in 2008, Bank of America announced they would buy Countrywide Financial for $4 billion.
These two acquisitions gave Bank of America one of the largest market shares in the mortgage arena as well as access to mortgage servicing. Bank of America and Countrywide Loans now control one in four of the home loans made in the United States.
For various reasons Countrywide Loans kept its name after being bought outright by Bank of America. However, recently their name has been changed to Bank of America Home Loans. The company is now involved in four different types of business: mortgage banking and loans, banking, capital markets, and global operations.
Bloggers speaking about Countrywide Loans can be found at sites like trulia.
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When the predatory and irresponsible practices of mortgage lenders like Countrywide caused a financial meltdown, who did the Countrywide CEO blame? In April 2007, Angelo Mozilo, Countrywide’s CEO, in a speech at the Millken Institute, blamed the Greenlining Institute, a nonprofit organization that had been ...3 weeks ago
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