About 700 jobs in Thousand Oaks and Westlake Village are in peril as Bank of America prepares to sell or shutter the correspondent-lending arm of its mortgage business. “We intend to sell the correspondent mortgage lending division or, if a suitable deal is not identified, we will consider other options, including winding down the correspondent Read More →
As the nation’s largest home lenders continue their self-imposed foreclosure freezes, economists in the tri-county region say the residential real estate market’s search for the bottom is being delayed. The Tri-Counties had more than 1,200 homes in foreclosure at the end of the second quarter, according to information from research firm DataQuick. That’s up more Read More →
Ask her how many foreclosure documents she worked through in a day at Countrywide Financial Corp., and Linda Martins-Mann says the pace was fast. “I didn’t count how many I processed, but it was a lot,” she said. “Maybe about 500 a day.” Martins-Mann was a foreclosure technician at Countrywide’s Simi Valley offices until the Read More →
By Henry Dubroff / Monday, October 25th, 2010 / Columns, Opinion / Comments Off on Totaling up the hefty price tag of Mozilo
The lifetime ban against former Countrywide Financial Corp. CEO Angelo Mozilo serving as an officer or director of a public company may be the most positive result to come from his settlement of a U.S. Securities and Exchange Commission complaint. But Mozilo’s company and his conduct created a decade-long road to economic ruin that reached Read More →
By Henry Dubroff / Monday, October 18th, 2010 / Columns, Opinion / Comments Off on From the editor: Mozilo’s ban a true black mark
The lifetime ban against former Countrywide CEO Angelo Mozilo serving as an officer or director of a public company may be the most positive result to come from his settlement of a U.S. Securities and Exchange Commission complaint. As reported over the weekend, the SEC settled with Mozilo and two top lieutenants in a case Read More →
