0
What scandal has been attached to the Countrywide Loans company?
Wiki User
∙ 10y ago
The U.S. financial political loan scandal in 2008-2009 involved Countrywide Loans who allegedly received favorable mortgage rates. It was one of the biggest scandals worldwide.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What are Countrywide home loans?
Countrywide Home Loans was a mortgage company in the United States which was acquired by the Bank of America. The official name of this company has changed to BAC Home Loans Servicing.
What is a company that offers country wide loans?
Countrywide Home Loans is a unit of residential lender Countrywide Financial's mortgage banking segment. It originates and invests in correspondent, consumer, and wholesale mortgage loans.
What type of mortgage loans does Countrywide Home Loans offer?
Countrywide Home Loans was bought by the Bank of America in 2008. The company offered a range of mortgage loans including Pay Option and sub-prime mortgages, which now qualify for some loan forgiveness from Bank of America.
Where can one find a Countrywide Home Loans Inc?
Countrywide Home Loans Incorporated offers its clients a wide variety of services, including home loans. To find a branch near you, simply visit the company's official website and access the branch locator.
What was the Countrywide loan scandal about?
This scandal included giving discount or VIP loans to members of legislative parties. It caused an uproar because certain people, like Jim Johnson who made $100million, was still given loans on the base fact that he didn't pay his bills on time. The purchase of these loans made by tax-payer companies pushed them into insolvency.
Where is Countrywide Mortgage located?
Countrywide Mortgage was purchased by Bank of America and became Bank of America Home Loans in 2008. Countrywide while it existed as a separate company was located in Calabasas, California. As part of Bank of America it is headquartered in Charlotte, North Carolina.
What is chl prequalification?
Countrywide Home Loans = CHL
What are the benefits of Countrywide Home Equity loans?
Countrywide Home Equity Loans offer borrowers the ability to use funds when they need based on the value of their homes. These loans can be used for home improvement projects.
What kind of mortgages does Countrywide offer?
The types of mortgages that Countrywide offers are primarily home purchase loans, home refinance loans and home equity. They offer fixed rate loans and adjustable rate mortgages.
Where can one get a country wide home loan?
A home loan from Countrywide is no longer available. The mortgage service company was bought out by Bank of America in January of 2008. All of the existing Countrywide loans were then transferred to Bank of America.
Where is Countrywide Home Loans located?
Countrywide Home Loans is a subsidiary of Countrywide Financial, which has now been acquired by Bank of America. The Bank of America has branches in most American states, and many international branches, but its headquarters are in Charlotte, North Carolina.
Does countrywide home loans inc still exist?
Something needs to be clarified in this answer. Countrywide Home Loans Inc. and Countrywide Home Loans Servicing LP., are not one in the same and never have been. Bank of America Home Loans Servicing, LP, fka Countrywide Home Loans Servicing, LP was merged into Bank of America Corporation and is now a part of Bank of America, NA. Countrywide Home Loans Inc. is still registered in good standing with the New York Secretary of State with an address in Charlotte, NC., the operating headquarters of Bank of America. It lists 20,000 stock shares valued at $1.00 each. So, technically, the answer is YES.
