Countrywide Financial Corp.

Enron's Jeff Skilling doesn't deserve a break

2013-05-17 19:20:00

As if you didn't know this already, we're coddling criminals in America. By that I don't mean the petty drug dealers, three-strikes necklace-snatchers and other mooks filling up our state prisons; many of them are doing hard time. I'm talking about...

BofA cuts 2 million customers loose

2013-05-14 00:00:00

It's long been a basic tenet of the business world: You give us more business, we'll reward your loyalty with better deals. That's how cable companies operate with their service packages. That's how phone companies work. And until now, that's pretty...

BofA settles another mortgage lawsuit but is facing a new one

2013-05-07 00:00:00

NEW YORK — As Bank of America Corp. pulls itself free from a swamp of mortgage liabilities, new troubles keep threatening to suck it back under. BofA agreed to settle a big insurer's claims over faulty mortgage bonds for $1.7 billion Monday. But...

BofA quadruples its profit but disappoints investors

2013-04-17 08:57:00

Bank of America Corp. quadrupled its first-quarter profit, reducing expenses and loan losses and reporting better brokerage and investment banking results, but continued to be bogged down by its mortgage operations, disappointing investors. Trying to...

Letters: Numbers don't tell the full story about fraud

2013-04-16 00:00:00

Re "Ex-KPMG accountant is charged," Business, April 12 For the 25 years I ran the California Community Foundation, KPMG was our auditing firm. For 10 of those years, our auditor was Scott London, the former KPMG auditor accused of fraud. I knew London...

'Connections' ad campaign will present a humbler Bank of America

2013-04-05 09:51:00

Can the ultimate too-big-to-fail bank persuade customers that it is humble? A new Bank of America Corp. ad campaign is taking on that task, with the tag line "Life's Better When We're Connected" replacing “Bank of Opportunity.” “We...

Fannie Mae posts record annual profit of $17.2 billion

2013-04-02 19:34:00

WASHINGTON — Taxpayer-owned Fannie Mae and Freddie Mac are back in the black, but it's unlikely to keep the nation's housing finance giants from being dismantled. Boosted by the recovery in the housing market, Fannie Mae on Tuesday reported a...

BofA pays $165 million to settle mortgage claims by credit unions

2013-04-02 08:58:00

In yet another home lending legal settlement, Bank of America Corp. will pay regulators $165 million related to losses that big credit unions suffered on mortgage-backed securities. The settlement, announced Tuesday, stems from efforts by the National...

Rescued Fannie Mae posts record profit as housing market rebounds

2013-04-02 07:31:00

WASHINGTON -- Bailed-out Fannie Mae on Tuesday reported a record $17.2 billion profit for 2012, driven by the housing-market recovery and a big settlement with Bank of America related to soured mortgages during the subprime boom. The housing finance...

Bank of America tops list of mortgage complaints by borrowers

2013-03-28 19:38:00

Bank of America Corp., which handles customer service on about 15% of U.S. home loans, has accounted for 30% of the mortgage complaints logged by the Consumer Financial Protection Bureau, according to a new database made public by the federal watchdog....

PennyMac, headed by former No. 2 at Countrywide, files for IPO

2013-02-08 08:29:00

PennyMac Financial Services Inc., the 5-year-old mortgage company founded by former Countrywide Financial Corp. President Stanford L. Kurland, plans to go public on the New York Stock Exchange.� PennyMac, which makes, buys, sells and services...

KB Home teams with Nationstar Mortgage to offer home buyers loans

2013-01-22 15:05:00

KB Home and Nationstar Mortgage Holdings Inc. are forming a joint venture that will offer home loans to KB customers across the country, so they can shop for a house and a mortgage at the same time. Nationstar, of Lewisville, Texas, agreed last year...

BankUnited Financial Corp. of Coral Gables, the largest Florida-based savings institution, was seized in May 2009 by regulators who said it had run out of capital.

2013-02-19 16:10:58

Countrywide Financial Corp. was at the center of allegations involving a VIP loan program, but the House Ethics Committee has found no rules violations by lawmakers and staffers.

2012-12-28 08:00:48

In a recent interview, Bank of America chief Kenneth D. Lewis called dealing with the Merrill fallout the worst experience of his career. But he argued that it would take two or three years before the Merrill and Countrywide acquisitions could be fairly evaluated.

2009-03-24 00:00:00