Countrywide Financial
Did Warren Buffett Make a Bad Call on Bank of America?
9:00AM 12/22/2011
By Rich Smith, The Motley Fool
Company News, Investing, Berkshire Hathaway, Bank of America
When Warren Buffett announced in August that he would spend $5 billion to snap up Bank of America shares, investors cheered. Surely this must mean that we've seen the end of the bad news from America's biggest bank, right? Wrong. So did the Oracle of Omaha blunder?
Why Bank of America Will Never Be Great Again
6:30AM 11/04/2011
Bank of America did the right thing this week, nixing its notorious $5 a month debit card fee before it began. But B of A can't win, and even now, financial journalists are wondering how it will find ways to nickel and dime its way back from this week's fee retreat at the expense of its customers.
Wells Fargo, Countrywide Mortgage Settlements Give Homeowners a Bit of Relief
10:30AM 7/22/2011
Bank of America, Wells Fargo & Co, Real Estate, Credit, Banking
This week brought a bit of good news for some troubled homeowners in the form of two separate settlement activities. The FTC has begun mailing refund checks to 450,000 Countrywide customers, and Wells Fargo reached an $85 million settlement with the Fed that will provide relief to up to 10,000 customers.
The Financial Landscape: An Enormous Countrywide Settlement, and a Push by FINRA
10:00AM 6/29/2011
Investing, Bank of America, Stocks in the News, Market News, Banking
Bank of America will soon finalize an $8.5 billion agreement to settle investor claims that Countrywide sold them lousy mortgage-backed securities before the housing bust. Meanwhile, private regulator FINRA is angling to take over the watchdog role for registered investment advisers.
Why Bank of America Offloaded Its BlackRock Stake
7:30AM 5/31/2011
Company News, Investing, Bank of America, Stock Picks, Stocks in the News, Market News
BlackRock, the world's largest publicly traded asset management firm, recently agreed to buy back Bank of America's remaining 7% stake in the company for about $2.5 billion. Trefis looks at why Bank of America is selling, what the buyback means for BlackRock, and what the effect will be for its stock.
What's Really Wrong With Letting Big Banks Pay Bigger Dividends
2:30PM 3/23/2011
Company News, Columns, Economy, Investing, JP Morgan Chase, Bank of America, Credit
The Federal Reserve is finally admitting that not all the big banks are healthy: Bank of America won't get to pay increased dividends. But none of those financial giants should be allowed to, and a logical look at the reasons they say they want to dole out the cash makes it totally clear why.
Investor Lawsuits Are Raising the Heat on Bank of America for 'Putbacks'
4:30PM 2/24/2011
Retirement, Company News, Columns, Economy, Bank of America, Real Estate, Credit, Investment
When Countrywide Financial created deeply flawed mortgage-backed securities, it wasn't just selling bad financial products: It was breaking its contracts. Now some ordinary investors are suing Countrywide's buyer, Bank of America, to force it to repurchase those bad mortgages. That's their right, but there's nothing simple about this case, or its ramifications.
Nope, Angelo Mozilo won't be serving time, no matter what the evidence shows. In fact, he won't even face a trial. Wondering how the most convictable CEO among the titans who brought down the financial system is getting off so easy? The answer lies in the revolving door between Wall Street and its "regulators."
Bank of America Sued for Countrywide's Mortgage Sins, Again
3:48PM 1/25/2011
Company News, Columns, Economy, Bank of America, Real Estate, Credit, Investment
On Monday, a group of institutional investors sued Countrywide and Bank of America over Countrywide's mortgages practices. The bank is accused of issuing vast numbers of loans using methods that went beyond lax standards and into fraud, with the sole goal of repackaging them into securities to resell with inflated ratings.
Allstate Sues Bank of America, Countrywide Over Mortgage-Backed Securities
5:30PM 12/28/2010
Company News, Investing, Bank of America, Stocks in the News
Allstate is suing Bank of America and its Countrywide Financial division over Countrywide's sale of $700 million in mortgage-backed securities to the insurance giant, alleging that Countrywide knew in advance that the assets would drop in value because of a high percentage of defaults.
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