Gretchen Morgenson Reviews The FCIC Report

“Mr. Mozilo, the commission said, described his company as having “prevented social unrest” by providing loans to 25 million borrowers, many of them members of minority groups. Never mind that throngs of these loans have resulted in foreclosures and evictions. “Countrywide was one of the greatest companies in the history of this country,” Mr. Mozilo […]

Michigan Reservist in a New War Against Foreclosure

Diana Henriques, NY Times While Sgt. James B. Hurley was away at war, he lost a heartbreaking battle at home. In violation of a law intended to protect active military personnel from creditors, agents of Deutsche Bank foreclosed on his small Michigan house, forcing Sergeant Hurley’s wife, Brandie, and her two young children to move out and […]

Mozilo Predicted U.S. Housing Collapse as Fed Overlooked Risk

James Sterngold, Bloomberg Former Countrywide Financial Corp. Chief Executive Officer Angelo Mozilo warned as early as 2004 of a possible housing-market collapse while the Federal Reserve overlooked the threat a year later, according to documents released by the Financial Crisis Inquiry Commission. “Not only at Countrywide, but also with other lenders, there is a clear deterioration in […]

The Russian Mafia Did It! I swear.

Back in August, I posted a story about how a title company in suburban Denver claimed the Russian Mafia hacked a wire transfer for $277,000 when they were transferring funds from them to JPMorgan Chase to pay off a client’s mortgage. Now the story is in the Denver Post.  The homeowners are now on the […]

My List Of The Best Journalists Covering Finance And Mortgages

I get emails from clients and people who read my site asking me what I read while drinking my morning coffee.  So here’s a list of the people I like to read during the 4 hours I spend every morning reading websites and news from around the globe. International: Felix Salmon, Reuters The cool thing […]