Comments on: Countrywide’s Mozilo sees recession as likely

By: Consumer confidence falls as home inventory and housing-related job losses begin to mount

Tue, 25 Sep 2007 17:14:13 +0000

[...] facts remain that we have a ton of adjustable rate mortgages of dubious quality still set to adjust and we have a slew of prime Option ARM mortgages that won’t come in to their reset period [...]

By: Michelle

Michelle — Tue, 28 Aug 2007 02:37:38 +0000

Oh Ed come on, you can’t possibly think that Countrywide originated those numbers!!! Many Lenders, Brokers and CLD relationships have contributed to the success of Countrywide. Many have also suffered as a result of the deceptive business practice exercised, in recent months.

Stay tuned those impressive numbers are sure to expand to the number of buybacks soon to come!!!

By: Interesting Housing Graphs « The Lyons Den

Interesting Housing Graphs « The Lyons Den — Mon, 27 Aug 2007 23:37:00 +0000

[...] read more | digg story [...]

By: Rhonda Porter

Rhonda Porter — Sat, 25 Aug 2007 15:48:32 +0000

Are Mozilo’s comments about a recession simply be him trying to overt attention from his behavior of dumping significant amounts of Countrywide stock? You could call this a “Gozilo Marketing” tacket….

By: Morgan Brown

Morgan Brown — Sat, 25 Aug 2007 04:50:45 +0000

Ed – I don’t think Michelle was crying. It’s pretty much common knowledge that Mozilo is a walking PR nightmare and never says what his people want him to say. He’s definitely a savvy business man, but if Countrywide is hurting now, they have even begun to feel hurt. when those pay option loans begin recasting is when the real credit insurance premiums, loan loss provisions and credit downgrades are going to sap Countrywide’s liquidity.

If they made it through this round, consider it round 1, there’s a long way to go.

By: Edward Smith

Edward Smith — Fri, 24 Aug 2007 23:28:58 +0000

Michele, you big baby. Quit your crying and get a real job. Countrywide is not going anywhere. The man with the tan has a plan. This is the man who borrowed 75 G’s in 1969, and built a mortgage and banking empire. Don’t you realize that if Countrywide goes down, it would be a “black hole” for mortgage banking, and the entire mortgage landscape. Does your company have 61,000 employees and operations all over the US, the UK and abroad? Does your company have a 20% of the US mortgage market? Doe’s your company service 1 in every 5 loans in America? Quit your crying about Countrywide.

By: Good to Go Pile . . . « Trading for the Masses

Good to Go Pile . . . « Trading for the Masses — Fri, 24 Aug 2007 15:53:31 +0000

[...] Countrywide?s Mozilo sees recession as likely [...]

By: Michelle

Michelle — Fri, 24 Aug 2007 06:53:44 +0000

While I watched this interview this morning between Angi and Maria, I was stunned at the arrogance displayed by this man, much resembling George Hamilton, with silver hair. His evasive response to the likelihood of his empire filing bankruptcy. His poor attempt to show an ounce of remorse for the much anticipated financial disasters that still lies ahead. The smug expression on his face, when asked about the 4 major banks that went to the Fed Window to withdraw sums of money in the exact amount B of A so kindly contributed to the ailing lender. Only to further insult viewers, stating it was coincidence and a vote of confidence much needed to prevail. Further, commenting that his desires are to recapture a larger share of the market.

As an A/E for a privately held mortgage company in Southern California, I have watched companies, including mine, suffer because of the deceptive business practice of Countrywide.

It will be interesting to watch the drama continue to unfold, with the potential buybacks CFC is faced with, reminds me of the ol’ saying “you reap what you sew”!!!

By: P. Jackson

P. Jackson — Thu, 23 Aug 2007 22:50:59 +0000

Morgan – I’d published commentary on the ARM reset schedule late Wednesday evening:

http://www.housingwire.com/2007/08/21/a-recovery-that-will-lead-to-relapse-why-were-not-out-of-the-woods-yet/

By: Meg Burns

Meg Burns — Thu, 23 Aug 2007 20:43:59 +0000

Morgan-

That chart freaks me out! And people continue to use the phrase “Subprime Crisis”. We both know that Countrywide wasn’t handing out Pay-Option ARMS to subprime borrowers. Prime borrowers…PREPARE YOUR DAY IS COMING!