Comments on: Countrywide goes on the B2B offensive http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sat, 07 Nov 2009 02:53:18 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: Countrywide Continues to Try to Calm Nervous Brokers http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/comment-page-2/#comment-4769 Countrywide Continues to Try to Calm Nervous Brokers Mon, 01 Oct 2007 22:10:27 +0000 http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/#comment-4769 [...] regarding the recent market situation. This is the third such communication in a series that started here, and continued here. What are you thoughts? Honest, genuine insight in to Countrywide or marketing [...] [...] regarding the recent market situation. This is the third such communication in a series that started here, and continued here. What are you thoughts? Honest, genuine insight in to Countrywide or marketing [...]

]]> By: Countrywide tries to assuage broker fears with latest email http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/comment-page-2/#comment-4058 Countrywide tries to assuage broker fears with latest email Fri, 14 Sep 2007 04:42:22 +0000 http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/#comment-4058 [...] thoughts? Well in the last communication there was quite an uproar from the broker community from what appeared (not to this recipient [...] [...] thoughts? Well in the last communication there was quite an uproar from the broker community from what appeared (not to this recipient [...]

]]> By: The Inside War… Mortgage Banks vs. Mortgage Brokers « Smart Mortgage Advice http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/comment-page-2/#comment-3953 The Inside War… Mortgage Banks vs. Mortgage Brokers « Smart Mortgage Advice Mon, 10 Sep 2007 21:34:44 +0000 http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/#comment-3953 [...] sent out a letter that when you read between the lines, blames mortgage brokers for their problems.  Many brokers have long considered Countrywide the darkside of mortgage lending.  Brokers [...] [...] sent out a letter that when you read between the lines, blames mortgage brokers for their problems.  Many brokers have long considered Countrywide the darkside of mortgage lending.  Brokers [...]

]]> By: Former Countrywide AE http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/comment-page-2/#comment-3675 Former Countrywide AE Mon, 03 Sep 2007 22:40:10 +0000 http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/#comment-3675 Marvin - I really don't care if you believe me. If you go back and look at every comment I have left here, you will see that I am not just wildly attacking Countrywide. The offer was mad to me by an SRVP who has been with the company for a long time, and he is someone that I truly trust and respect. Perhaps he would not have been able to get his DEVP to sign off on it. Anyway, it doesn't matter anymore. The only point that I was trying to make to a previous comment about my work history was that I did not leave because of poor performance. I was there for 28 months, and I was in the Platinum Producer tiers for 23 of those months, including 3 of my final 4 months there. I was a valued employee and they were doing what they could to retain me. I still say I should not have left when I did. Perhaps you did not get the point I was trying to make. As to your "have a nice life" comment, I will try to do exactly that. For starters, I have a job that I am at least 50% confident will exist in a few months, which is more than I can say for the WLD side of Countrywide. I hope I am wrong and do not wish ill on any of my peers, but if Countrywide does fall or at least become a shell of what it was, it will be in large part due to arrogance. Keep that in mind. Marvin – I really don’t care if you believe me. If you go back and look at every comment I have left here, you will see that I am not just wildly attacking Countrywide. The offer was mad to me by an SRVP who has been with the company for a long time, and he is someone that I truly trust and respect. Perhaps he would not have been able to get his DEVP to sign off on it. Anyway, it doesn’t matter anymore. The only point that I was trying to make to a previous comment about my work history was that I did not leave because of poor performance. I was there for 28 months, and I was in the Platinum Producer tiers for 23 of those months, including 3 of my final 4 months there. I was a valued employee and they were doing what they could to retain me. I still say I should not have left when I did. Perhaps you did not get the point I was trying to make.
As to your “have a nice life” comment, I will try to do exactly that. For starters, I have a job that I am at least 50% confident will exist in a few months, which is more than I can say for the WLD side of Countrywide. I hope I am wrong and do not wish ill on any of my peers, but if Countrywide does fall or at least become a shell of what it was, it will be in large part due to arrogance. Keep that in mind.

]]> By: CC http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/comment-page-2/#comment-3602 CC Fri, 31 Aug 2007 23:46:59 +0000 http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/#comment-3602 All of this is due to the greed of the American public wanting bigger/better than the guy next door. Well the fools on the hills have the big houses and pools. pay for them.... Anyone who doesn't read a note before they sign it is not very smart. I am waiting for us to have to bail out people who bought a car and can't make the payments!!! The dealer was a crook. They took out helocs and bought ponies...now they have to feed them...let's take care of that too. Most of these loans were obtained by speculators who weren't smart enough to realize that the housing appreciation had to end at some point. They lied and stated 2nd home etc...it's all bull and we all will pay, greedy suckers.... All of this is due to the greed of the American public wanting bigger/better than the guy next door. Well the fools on the hills have the big houses and pools. pay for them….

Anyone who doesn’t read a note before they sign it is not very smart. I am waiting for us to have to bail out people who bought a car and can’t make the payments!!! The dealer was a crook.

They took out helocs and bought ponies…now they have to feed them…let’s take care of that too.

Most of these loans were obtained by speculators who weren’t smart enough to realize that the housing appreciation had to end at some point. They lied and stated 2nd home etc…it’s all bull and we all will pay, greedy suckers….

]]> By: MARVIN http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/comment-page-2/#comment-3521 MARVIN Fri, 31 Aug 2007 08:06:16 +0000 http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/#comment-3521 FORMER COUNTRYWIDE AE I want to know who offered you 20K a month gurantee to stay. You are killing me. I have worked there for 4 years and we would never make that offer on the WLD side or to any other AE in any other department. I am team manager and I have to say you are a liar. Have a good life. FORMER COUNTRYWIDE AE I want to know who offered you 20K a month gurantee to stay. You are killing me. I have worked there for 4 years and we would never make that offer on the WLD side or to any other AE in any other department. I am team manager and I have to say you are a liar. Have a good life.

]]> By: Gregory Hartley http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/comment-page-2/#comment-3483 Gregory Hartley Fri, 31 Aug 2007 02:34:57 +0000 http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/#comment-3483 Eric, are you reading this??? Eric, are you reading this???

]]> By: Former Countrywide AE http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/comment-page-2/#comment-3432 Former Countrywide AE Thu, 30 Aug 2007 20:08:18 +0000 http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/#comment-3432 I want to address a comment from Wanda a ways back. I can only speak for myself, but no, I was not fired. As a matter of fact, CWide WLD offered me a gaurnatee base of $20k per month to stay. I made what was clearly the WRONG choice by leaving when I did, which was Feb 07. However, I would still be gone now. Countrywide is like any other big company. There are good people and bad people. I do feel the market dominance is what drives the upper managerment, but by the time it makes it way, way down the ladder to people like and the other arrogant mites who Angelo would not even take the time to stop his car if he hit you, it is just blind arrogance. Those of you CFC Retail loan officers that keep puffing your chest out, I wish you the best of luck. Heavy is the head that wears the crown! Chris Dodd and his merry band are looking to make an example out of someone. I doubt they will come after the little regional bank I work for. I want to address a comment from Wanda a ways back. I can only speak for myself, but no, I was not fired. As a matter of fact, CWide WLD offered me a gaurnatee base of $20k per month to stay. I made what was clearly the WRONG choice by leaving when I did, which was Feb 07. However, I would still be gone now. Countrywide is like any other big company. There are good people and bad people. I do feel the market dominance is what drives the upper managerment, but by the time it makes it way, way down the ladder to people like and the other arrogant mites who Angelo would not even take the time to stop his car if he hit you, it is just blind arrogance. Those of you CFC Retail loan officers that keep puffing your chest out, I wish you the best of luck. Heavy is the head that wears the crown! Chris Dodd and his merry band are looking to make an example out of someone. I doubt they will come after the little regional bank I work for.

]]> By: Small Fry http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/comment-page-2/#comment-3431 Small Fry Thu, 30 Aug 2007 19:52:30 +0000 http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/#comment-3431 Integrity? Let's define it, shall we: integrity is defined as a firm adherence to a code of especially moral or artistic values. Looking back, does Countrywide have integrity? I somehow don't think screwing your customer over, with the wrong products at higher interest rates, so the lender can make the most profit as MORAL!! Read the NY Times article. The AE in my state confirmed it was true. I've owned my company for 14 years, I have NEVER done an option ARM and I never will. I knew they were bad from the start and they are horrible for anyone. Countrywide did literally thousands of them and they will come back to bite your company in the A$$. Your loan officers saw the $$$$$ signs and did NOT disclose how they work and that they would have negative ammortization. Please DO NOT talk to me about Countrywide having integrity - that's the last thing your company has. Let's see how fast they waive the pre-pay penalties on all these bad loans so your customers won't end up homeless. Yeah right, like that will happen. Integrity? Let’s define it, shall we: integrity is defined as a firm adherence to a code of especially moral or artistic values. Looking back, does Countrywide have integrity? I somehow don’t think screwing your customer over, with the wrong products at higher interest rates, so the lender can make the most profit as MORAL!! Read the NY Times article. The AE in my state confirmed it was true. I’ve owned my company for 14 years, I have NEVER done an option ARM and I never will. I knew they were bad from the start and they are horrible for anyone. Countrywide did literally thousands of them and they will come back to bite your company in the A$$. Your loan officers saw the $$$$$ signs and did NOT disclose how they work and that they would have negative ammortization. Please DO NOT talk to me about Countrywide having integrity – that’s the last thing your company has. Let’s see how fast they waive the pre-pay penalties on all these bad loans so your customers won’t end up homeless. Yeah right, like that will happen.

]]> By: msdirectcompetition http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/comment-page-2/#comment-3419 msdirectcompetition Thu, 30 Aug 2007 17:20:23 +0000 http://blownmortgage.com/2007/08/28/countrywide-goes-on-the-b2b-offensive/#comment-3419 If the option arms are the disaster we need to worry about then you better look closer at BofA and Wells and especially the WaMu peoples bought portfolio. Don't think its just CFC shit world savings is the spot to go for you brokers right? How many of you use them for other products????? Small Fry-- It doesn't matter how much integrity you have if your company doesn't have any. Their is a reason Countrywide is the right choice for many customers. We're local and we're empowered to take those loans away from good folks like yourself. You keep getting them in our servicing world and we'll keep refinancing them and making them our own. Yes of course I work for Countrywide Retail, thats the only reason I've read all of your crap. Am I nervous about feeding my family. Not at the least bit because I can produce solid products for my customer and company. I've worked at 3 other lenders and have always came back mainly because others have their heads up their a*# and don't think pro-actionary instead they see change and then try to adapt. I'd put our "scumbag" upper management against any other lending company or banks, atleast they have class and a drive to be number one. If the option arms are the disaster we need to worry about then you better look closer at BofA and Wells and especially the WaMu peoples bought portfolio. Don’t think its just CFC shit world savings is the spot to go for you brokers right? How many of you use them for other products????? Small Fry– It doesn’t matter how much integrity you have if your company doesn’t have any. Their is a reason Countrywide is the right choice for many customers. We’re local and we’re empowered to take those loans away from good folks like yourself. You keep getting them in our servicing world and we’ll keep refinancing them and making them our own. Yes of course I work for Countrywide Retail, thats the only reason I’ve read all of your crap. Am I nervous about feeding my family. Not at the least bit because I can produce solid products for my customer and company. I’ve worked at 3 other lenders and have always came back mainly because others have their heads up their a*# and don’t think pro-actionary instead they see change and then try to adapt. I’d put our “scumbag” upper management against any other lending company or banks, atleast they have class and a drive to be number one.

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