What Countryside is saying to the Wholesale Broker Community

August 28,2007
 
To Countrywide Brokers,
This is unquestionably one of the most challenging times in the annals of mortgage lending. As such, this communication is the first of a series that will outline how Countrywide , America’s
Wholesale Lender is navigating through this challenging market. Additionally, it is my desire that these ongoing communications will share some [...]

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Update on the Zaca Fire

Even thought the fire is just getting into Ventura County, we have been getting some questions on it. Here is the most recent update:
ZACA FIRE UPDATE
Friday, August 24, 2007
12 o’clock noon

Fire Status:
Acres Burned: 235,601 acres
Acreage Increase (last 12 hours): 3,152 acres
Fireline to Build: 7 miles
Date Started: July 4, 2007 at 10:53 am
Percent [...]

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6 Excellent tips for Countrywide

Here is part of a great story I came across from FORTUNE magazine writer Peter Eavis:
1) What investors want most of all is hard, honest data out of Countrywide. The numbers, if revealed, can be bad (but not nightmarish). After all, the market is already pricing in a massive slowdown in earnings, so dependable clarity [...]

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The Countrywide Letter

Even though Angelo is not talking to me (see earlier post) this IS what he is saying to his employees. I think the B of A investment underscores the strength of the company and the degree to which the market is currently undervaluing their performance and potential.
Here’s the letter:

Subject:
Memorandum from Angelo Mozilo

This memo [...]

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You (not) Talkin’ to Me?

An Open Letter to Angelo Mozilo, CEO of Countrywide
As a full-time REALTOR and as an owner/partner in real estate based businesses, I have a fairly vested interest in what is going on at Countrywide. To date, your silence has been deafening.
Let’s review Corporate Crisis Management 101 for a moment. The best way to handle a [...]

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What’s a Buyer or Seller to do?

It’s been an interesting week to say the least. We had an offer on one of our listings from a buyer with a 793 FICO score and he could not qualify for a loan. We had the AmGen and Countrywide scares. We even had a magnitude 3.5 earthquake just to make things exciting.
In this ‘interesting’ [...]

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Looking in from the Outside at AmGen

What a week for news in Conejo Valley! The sky is falling! It’s Pharmageddon! Countrywide is going bankrupt!
Okay gossip-mongers, please step away from your crack pipes.
Here is what we know about AmGen: They are cutting about 12% of their workforce worldwide with 2200 slots coming out of the US workforce. Colorado is taking a large [...]

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Earthquakes in the Mortgage Markets

As summer has worn on, and with very little fanfare, a crisis has been developing in the mortgage industry that will CHANGE THE REAL ESTATE INDUSTRY FOREVER. This is far more than simply “the summer of discontent” for loan officers. It is imperative that all of us understand these developments and what they mean to [...]

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