Today's Fresh Blogs...

• Is Countrywide the New Titanic?

  Published: August 10, 2007, 12:22 pm

  Tags: Wall Street, Mortgage News Insight, Angelo Mozilo, Countrywide, Titanic

  the next Enron? Is Angelo Mozilo this decade’s Kenneth Lay? Will the rapid unwinding of the secondary market mechanism leave them no option but to go belly-up? Countrywide filed its quarterly 10-Q statement with the SEC and while the mainstream media was following the run on European banks the company slipped some disturbing

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• What's going on with Countrywide?

  Published: August 16, 2007, 10:18 am

  Tags: Wall Street, Economy, Mortgage News Insight, Angelo Mozilo, Bailout, Bankruptcy, Countrywide, Meltdown, Titanic

  In my post a few days ago I asked “Is Countywide the next Titanic?” I didn’t know; and I still don’t know if it is or not. But there has been a flurry of news about Countrywide over the last couple of days. Let’s take a look at some of it and see if we can distill it down at all: Yesterday Merrill Lynch

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• Is there a run on Countrywide bank or is it a prank?

  Published: August 16, 2007, 8:43 pm

  Tags: Wall Street, Mortgage News Insight, Angelo Mozilo, Bailout, Bankruptcy, Countrywide, Meltdown, Titanic

  Check out this oddity. It should raise some eyeballs, to say the least. My initial contact with the LA Times thought that it could be a mean-spirited prank/hoax. Never the less I thought I’d share it here and play in to the hoax if it is found to be phony. If Google’s wrong, I’m wrong. If you Google News Countrywide Bank

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• Countrywide Begins Layoffs in Earnest

  Published: August 20, 2007, 11:11 pm

  Tags: Mortgage News Insight, Angelo Mozilo, Bailout, Bankruptcy, Countrywide, Meltdown, Titanic

  The Wall Street Journal reports that Countrywide has begun layoffs in its Full Spectrum lending division. Full Spectrum is Countrywide’s euphemism for its subprime and alt-a retail lending divisions. I can personally confirm it as well. Several of our friends have reported that sales team managers are being demoted and loan originators

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• Countrywide's Mozilo sees recession as likely

  Published: August 23, 2007, 2:51 pm

  Tags: Mortgage News Insight, Angelo Mozilo, Arm Resets, Countrywide, Housing Market, Recession

  officer of Countrywide, Angelo Mozilo, said he believes its likely that the troubles in the housing market will lead to a nation-wide recession. From a CNN article covering the interview: In a televised interview, Mozilo said, when asked if housing would lead the United States into a recession: “I think so … I can’t

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• Countrywide's Official Response to the NY Times

  Published: August 30, 2007, 7:54 pm

  Tags: Mortgage News Insight, Angelo Mozilo, Countrywide, New York Times, Subprime Mortgage

  Countrywide issued an official response to the scathing New York Times expose on the mortgage lender’s alleged institutionalized practice of steering borrowers in to high cost loans. The lengthy, 3 page statement can be found here. (PDF) In short, Countrywide categorically denies institutionalized steering and highlights everything the

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• Mozilo to Dump Tons of Countrywide Stock Next Week

  Published: October 5, 2007, 8:28 pm

  Tags: Wall Street, Mortgage News Insight, Angelo Mozilo, Bank Of America, Countrywide

  today announcing that Angelo Mozilo will sell a large number of shares as one of his 10b5-1 plans. The 10b5-1 plans allow corporate executives to sell shares on a defined basis, triggered by stock prices and other events and set well in advance of the actual sale. The rule was set up to allow executives to diversify out of large stock

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• SEC Opens Probe on Countrywide's Mozilo

  Published: October 17, 2007, 7:50 pm

  Tags: Wall Street, Mortgage News Insight, 10b5 1 Plans, Angelo Mozilo, Countrywide, Insider Trading, Mortgage Meltdown

  Countrywide CEO Angelo Mozilo and the changes he made to his 10b5-1 plan which dictates share prices when corporate executives divest themselves of stock held in the company. The 10b5-1 plans are supposed to protect executives from probes of impropriety in share sales by being established long before the actual sale; but

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• BMI's Dan Gainor Makes First Appearance on New Fox Business Channel

  Published: October 18, 2007, 4:20 pm

  Tags: Business, Economic News, Angelo Mozilo, Dan Gainor, David Asman, Mrc Nb News, Video

  Countrywide Financial CEO, Angelo Mozilo for his recent sale of his stock in the company.

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• Countrywide Post 1st Earnings Loss in 25 Years - Stock Surges

  Published: October 26, 2007, 1:07 pm

  Tags: Wall Street, Mortgage News Insight, Angelo Mozilo, Countrywide Earnings, Rocky

  said Chief Executive Angelo Mozilo in a statement. However, the CEO said the company believes it can weather the credit storm as it “stabilized its liquidity, strengthened its capital position, significantly tightened its loan program and underwriting guidelines, and began the process of right-sizing operations for today’s

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• CBS Ignores Motives of Countrywide CEO Bashers

  Published: October 31, 2007, 6:21 pm

  Tags: Business Coverage, Housing, Stock Market, Alexis Christoforous, Angelo Mozilo, Anthony Mason, Richard Moore, William Patterson, Cbs Evening News

  you. Over the last year, Angelo Mozilo, CEO of Countrywide (NYSE:CFC), decided to periodically sell some of the stock he owns in the company he co-founded 40 years ago and what is now the nation's largest mortgage lender part of a prearranged measure known as a 10b5-1 trading plan. This was all done to prepare him for his December 2009

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• Fannie, Freddie Face Conflicting Demands

  Published: December 4, 2007, 12:00 am

  Tags: Fannie, Freddie, Face, Conflicting, Demands, Fannie Mae, Freddie Mac Holdings, Wall Street, Brian Faith, Office Of Federal Housing Enterprise Oversight, Angelo Mozilo, Countrywide Financial Corporation, David Cho, Leland C Brendsel, Mclean Virginia, Sharon J Mchale, U S

  As policymakers call for Fannie Mae and Freddie Mac to help large numbers of homeowners avert foreclosure, they are running up against other interests -- not the least, the companies' obligation to deliver profits to shareholders.

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• Adriana Lima Has Really Big … Eyes

  Published: January 14, 2008, 12:00 pm

  Tags: Company Town, Adriana Lima, Angelo Mozilo, Citigroup, Countrywide, Cravath Swaine Amp Amp Moore, John Bartlett, Liz Claiborne, Tim Gunn

  • Countrywide CEO Angelo Mozilo will take home $110 million in severance for unloading his radioactive mortgage company to Bank of America. [Deal Journal/WSJ] MEDIA • Si Newhouse maintained his favorite holiday tradition back in November, seating execs he later fired far away from the right hand of god. Shake-up accomplished,

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• While Nevada Caucuses, the Senate Can Wait

  Published: January 17, 2008, 12:00 am

  Tags: While, Nevada, Caucuses, The, Senate, Can, Wait, Bill Clinton, Harry Reid, Henry Waxman, John Edwards Politician, David Bonior, Barack Obama, Brian Kennedy, Countrywide Financial Corporation, Angelo Mozilo, John Boehner, Matt Mckenna, Illinois, Iowa, Michigan, New Hampshire

  While Speaker Nancy Pelosi (D-Calif.) brought the House back in session this week, Senate Majority Leader Harry M. Reid (D-Nev.) is keeping legislative business at bay in his chamber while he eagerly tends to his state's first-ever January caucuses.

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• Countrywide CEO Forfeits $37.5 Million in Severance Pay

  Published: January 28, 2008, 12:00 am

  Tags: Countrywide, Ceo, Forfeits, 37 5, Million, Severance, Pay, Angelo Mozilo, Countrywide Financial Corporation, Bank Of America Corporation, California, Hay Group Inc, Calabasas, U S Securities And Exchange Commission

  LOS ANGELES, Jan. 27 -- Countrywide Financial chief executive Angelo R. Mozilo, under fire over the size of his potential payout from the proposed sale of his troubled mortgage company, says he is forfeiting $37.5 million in severance pay, fees and perks he was scheduled to receive upon retirement.

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