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Roman Abramovitch

Countrywide Financial Corp Probed By F.b.i

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Countrywide Is Probed by FBI for Possible Fraud, Person Says

By Robert Schmidt and David Mildenberg

March 9 (Bloomberg) -- Countrywide Financial Corp., the largest U.S. mortgage lender, is under investigation by the Federal Bureau of Investigation for possible securities fraud, according to a person familiar with the probe.

Investigators are focusing on whether Countrywide officials misrepresented the company's financial position and the quality of its mortgage loans in securities filings, the person, who declined to be identified because he wasn't authorized to speak about the probe, said yesterday. He described the inquiry, reported earlier by the Wall Street Journal, as preliminary.

Countrywide is among at least 14 companies that the FBI is checking for possible accounting violations related to the subprime lending crisis, including mortgage lenders, housing developers and Wall Street firms that package loans as securities. The FBI announced the review in January without identifying any of the companies.

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As early as 06 18% of countrywides loans defaulted on the very first payment and they did nothing.....

Angelo Mozilo was asked by a TV journo what he would do with all the money he made selling their stock before it all turned to custard and he said that his kids school fees were very high as a serious response........


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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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