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On top of all the other troubles at Countrywide Financial Corp., the mortgage giant faces a lawsuit from an employee alleging that workers lost hundreds of millions of dollars in their 401(k) retirement plans by holding the company's stock. The...
Los Angeles Times Staff WritersAngelo Mozilo, chief executive of Countrywide Financial Corp., has been fond of saying that the company became America'sNo. 1 mortgage lender by being smarter than the competition. In a harangue to Wall Street analysts early last year, the combative...
Los Angeles Times Staff WriterAmid mounting foreclosures, a group of major lenders Tuesday said they would offer seriously delinquent borrowers a grace period of up to 30 days to establish possible workout plans before finalizing steps to take away their homes. The initiative,...
Los Angeles Times Staff WritersIn a deal that could buttress the ailing housing market, financial titan Bank of America Corp. was deep in negotiations Thursday to buy loss-battered Countrywide Financial Corp., the biggest U.S. mortgage lender. A takeover by Bank of America would...
Zap2It.comEd McMahon's financial woes have not ended. The former "Tonight Show" sidekick was sued by Westmoore Lending for not paying back loans that were taken out two years ago, reports TMZ.com. In a lawsuit filed Monday, Aug. 11, Westmoore claims that they had...
Tags: Television, Entertainment, Ed McMahon, Litigation, Trials
Los Angeles Times Staff WriterAs a slumping housing market threatens California's economy, state lawmakers gave a first, key approval to a bill aimed at preventing foreclosures of homes financed with sub-prime mortgages. The measure by Senate President Pro Tem Don Perata (D-Oakland)...
Los Angeles Times Staff WriterCountrywide Financial Corp. is the target of a multi-state federal investigation aimed at determining whether the Calabasas-based lender has been levying unjustified fees on consumers going through bankruptcy. The U.S. trustee's office, the agency...
Today's question: Is there a role for Hillary Clinton in the White House? How about Arnold Schwarzenegger? Previously, Lilly and Weigel weighed potential Cabinet picks and discussed Rahm Emanuel's selection as chief of staff. A step down for Clinton...
Bank of America Chief Executive Ken Lewis stopped by The Times this week to discuss with editors and reporters his company's approach to the housing crisis and its takeover of troubled mortgage lender Countrywide Financial Corp. Here are some highlights....
Today, Leonard and Thornberg debate the extent to which the government should facilitate loan modifications to prevent foreclosures. Previously, they discussed the public's reluctance to support federal assistance for troubled borrowers and regulating...
Los Angeles Times Staff WriterDysfunctional capital markets, frantic central banks, stressed-out consumers, fear and uncertainty -- all are alarming echoes of the global economic cataclysm of the 1930s. Which raises the inevitable question: Could another Great Depression be lurking...
Dec 10, 2006 |Story| Tribune Media Services
Oct 7, 2007 |Story| Chicago Tribune
Aug 16, 2007 |Story| Los Angeles Times
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