Countrywide Financial Corp. has mailed checks for more than $3,000 to hundreds of Connecticut residents who lost or could lose their homes as a result of the company’s “abusive and unfair” home loan practices, Attorney General Richard Blumenthal said Monday.
I described the conditions when mortgages were paid before their due date on the first of the month in the first article. This update describes the outcome when I made the February payments. These payments were made between the first and sixteenth of the month.
Category: Editorial
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On December 30, I paid mortgages on line to try and get a little break by paying “more interest” in 2009. While doing this I made “side by side” comparisons of the mortgage companies or their servicer. The mortgage companies used in this comparison were Wells Fargo, First Horizon, Saxon, and Everhome. I used statements, company websites, and transaction fees to rate my mortgage companies.
Category: Analysis, Editorial
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Correspondent lenders are small lenders who do have the right to extend loans on their own risk and have the necessary funds to do so. After a loan is closed a correspondent lender will rarely keep it in their portfolio, selling it to a larger wholesale lender.
Category: Definitions
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From 2007 through 2009 Mortgage Blues reported on the subprime crisis. Daily articles highlighted a nation in turmoil as financial greed and abuse rocked the country.
Category: Government Positions
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