Countrywide VIP mortgage program investigation goes dark

Countrywide VIP mortgage program investigation goes dark

What was the Countrywide VIP loan program?. refinanced at least one mortgage through Countrywide’s VIP program in 2004, according to internal e-mails between Bob Feinberg and Angelo Mozilo..

Two more congressmen have been identified as receiving loans through a Countrywide Financial Corp. program that has prompted a House investigation into whether the fallen mortgage giant approved loans.

Obama administration extends Making Home Affordable Program until 2015 It is one of the two main programs that make up the Obama Administration’s "Making Home Affordable" program (HAMP is the other one). Through this program, homeowners who might not otherwise qualify for a mortgage refinance due to equity losses or other factors can refinance their homes and secure a lower interest rate.Washington D.C. fails in terms of home affordability Washington, District of Columbia Home Affordability The data below measures home affordability for the Washington-Arlington-Alexandria, District of Columbia metropolitan area using price-to-income and price-to-rent metrics. 1 The maximum affordable loan amount for the median household income is also calculated.

This organization is also used to help expand the secondary market for mortgages. freddie mac works by purchasing mortgages on the secondary market and then selling them as an MBS to investors within the open market.Strong housing market helps reduce lingering foreclosure inventory countrywide vip mortgage program investigation goes dark.

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 · ”The Committee’s investigation found Countrywide lobbyists and CEO Angelo Mozilo used discounted loans as a tool to ingratiate itself with policymakers in an effort to benefit the company’s business interests,” said Rep. Issa in announcing the report, which documented 29 VIP loans to 12 members of Congress and congressional staff.. The program at issue was known as.

 · Darrell Issa’s House Oversight Committee Spills The Beans On Buck McKeon: Bribery From Corrupt Mortgage Giant >. How Countrywide Used its VIP Loan Program To Influence Washington Policymakers, Short version– McKeon was about to go bankrupt so he reached out to Mike Farrell, sleazy chief lobbyist and legislative strategist for the.

A long-brewing scandal surrounding special treatment given to elected officials and congressional staff by subprime mortgage lender countrywide. released its report investigating Countrywide’s VIP.

Home prices rise 0.3% in August, up 5.6% since January S&P/Case-Shiller home price index shows 0.7% drop in September In all 20 U.S. cities included in the S&P/Case-Shiller home price index, November house prices increased year over year, and 15 of the 20 posted a month-over-month increase. Portland was up 11.1%.Fitch: Alt-A Mortgages Deteriorating More Rapidly than Expected Fitch: Actual Downgrades of Alt-A Trusts. by Tanta on 7/17/2007 07:33:00 PM.. reflect deterioration in the relationship between CE and expected losses. approximately 4.76% of the current collateral balance for series 2006-AA3 is more than 60 days delinquent. This includes bankruptcy.Home Prices Up 0.3% In October In October, the Teranet-National Bank National Composite House Price Index was up 0.3% from the previous month, slightly more than the average October rise of 0.2% since the Index series began in 1999.

 · Bank of America Settles Predatory Lending Claims. over Towns’s failure to launch an investigation into Countrywide Mortgage’s reported sweetheart deals to VIPs.Countrywide, now owned by Bank of America, was reported to have given VIP loans and treatment to lawmakers and officials at the federal and local level who were in a position to.

Countrywide Mortgage and subprime mortgages proceed with the Committee’s investigation of Members of Congress who received mortgage loans from Countrywide Financial Corporation under its VIP loan program, also known as the "Friends of Angelo" program after the company’s CEO, Angelo Mozilo.1 Since your response, sent earlier today, did not address any of my questions about how

Issa’s investigation so far has identified four current. and some said they weren’t even aware their loans went through the VIP program. Countrywide was the nation’s largest mortgage lender, and.

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