Former subprime executive making risky loans again

By Daniel Wagner

Andy Pollock, who led First Franklin's bad loan factory, is pushing interest-only loans at new firm.

Report: Countrywide won influence with discounts

By The Associated Press

Subprime lender Countrywide bought influence of Washington elite with mortgage discounts

Countrywide whistleblower chosen for Ridenhour award

By Michael Hudson

Countrywide whistleblower chosen for Ridenhour award for truth-telling in the public interest.

Feds investigating possible fraud at GE’s former subprime unit

By Michael Hudson and E. Scott Reckard

Federal investigators looking into possible fraud at GE's now-closed subprime lender

Excerpts from this story referencing "Mortgage":

"… into potentially criminal business practices at Burbank, Calif.-based WMC Mortgage Corp. during the home-loan boom, according to four people with knowledge o …"

"… rs, making it a less-familiar name than giant retailers such as Ameriquest Mortgage Co. and Countrywide Financial Corp. Still, in 3½ years under GE’s owner …"

"… ed in guilty pleas to egregious fraud. One, at Taylor, Bean & Whitaker Mortgage Corp. in Florida, included the creation of fictitious loans. The othe …"

"… ;in Florida, included the creation of fictitious loans. The other, at U.S. Mortgage Co. in New Jersey, involved selling the same loans twice — once to credi …"

Bank of America to pay record settlement over Countrywide abuses

By John Dunbar

Bank of America to pay record settlement over Countrywide abuses

Management gurus claim they were blindsided by toxic culture at Countrywide

By Michael Hudson

Survey showed Countrywide suffered from bad ethics, bad management, ex-employee says

The weekly watchdog: Oct. 17 - Oct. 21

By Bill Buzenberg

In case you missed them, catch up on this week's top investigations from iWatch News

Excerpts from this story referencing "cancer":

"… pThe tales just grow more tawdry. Days before Mari Eisenman was to undergo cancer surgery, a senior vice president with her employer, Countrywide Financial …"

GOP candidates in foreclosure capital say government not the solution to crisis

By Michael Hudson

Republican candidates in Nevada say foreclosure mess will go away if government stays out of it

Excerpts from this story referencing "Texas":

"… housing on the campaign trail, such as Newt Gingrich and Rep. Ron Paul of Texas have said Fannie and Freddie were responsible for policies that drove lend …"

Inside Countrywide, a ‘counseling meeting’ then termination

By Michael Hudson

Whistleblower suffers cancer, then termination from employment

Excerpts from this story referencing "bank":

"… in 2008, declined to answer questions about Eisenman’s allegations. The bank has refused iWatch News’ requests to discuss specific allegations by for …"

"… yees, saying they involve allegations of problems that occurred before the bank acquired Countrywide. It has also declined to answer questions about how m …"

Countrywide loan underwriter found herself in ‘dangerous territory’

By Michael Hudson

Countrywide underwriter learns that eventually, giants really do fall

The weekly watchdog: Sept. 19 - Sept. 23

By Bill Buzenberg

In case you missed them, catch up on this week's top investigations from iWatch News

Countrywide protected fraudsters by silencing whistleblowers, say former employees

By Michael Hudson

Exclusive interview with a high-ranking Bank of America whistleblower reveals corruption that led to the financial collapse

Excerpts from this story referencing "Sacramento":

"… I was let go.” Arroyo and Court sued Countrywide in state court in Sacramento, but Countrywide won an order forcing the case into arbitration. They …"

Mortgage industry whistleblower wins case against Bank of America

By Michael Hudson

Government awards mortgage whistleblower $930,000, job reinstatement

A roundup of investigations in the three years since the last market crash

By Shirley Gao

iWatch News reports on the financial crisis from 2008 to now

Claims of high-pressure sales, fraud at odds with Quicken Loans’ straight-shooting image

By Michael Hudson

Quicken Loans, the giant mortgage lender founded by Cleveland Cavaliers owner Dan Gilbert, goes on trial Tuesday in Detroit to face allegati

Excerpts from this story referencing "West Virginia":

"… nformation to push through bad deals.Last February, a state court judge in West Virginia found that Detroit-based Quicken had committed fraud against a homeowner b …"

"… y hurt a lot of people,” Jim Bordas, an attorney who sued Quicken in the West Virginia fraud case, contends.Quicken denies it mistreats workers or customers.In t …"

"… aud case, contends.Quicken denies it mistreats workers or customers.In the West Virginia case, the company said there was no fraud and that its mortgage lending pr …"

"… n loans, borrowers’ debt grows even as they make on-time payments.In the West Virginia fraud case decided last year, the judge found that Quicken had landed 45-y …"

FactWatch: Fannie and Freddie were followers, not leaders, in mortgage frenzy

By Michael Hudson

Republicans insist that Fannie Mae and Freddie Mac "were the main cause of the nation's current financial turmoil” but a look at the data sh

A peek into the art of mortgage duplicity

By Michael Hudson

In many of Ameriquest Mortgage’s far-flung sales branches, employees outfitted break rooms or spare cubicles with the tools they needed to c

16 cents on the dollar: Doing the math on Mozilo settlement

By Michael Hudson

In the end, Angelo Mozilo settled for pennies on the dollar. ...

FDIC sits on potential 50 lawsuits as it tries to reach settlements

In the more than two years since Lehman Brothers went bust, the Federal Deposit Insurance Corp. has shuttered more than 250 banks, but has s

Main Street or Wall Street?

By Michael Hudson

In arguing against tougher regulation of car dealers, Kansas Republican Sen. Sam Brownback insisted they didn’t belong in the broad financia

Bank of America pays $108 million to settle latest case against troubled Countrywide unit

Struggling homeowners who were overbilled by two Countrywide Financial subsidiaries for services such as lawn care and home inspections at t

Excerpts from this story referencing "California":

"… pter 13 bankruptcy suits that the U.S. trustee for the Central District of California had brought against Countrywide. Morris said that Monday’s settlement wa …"

Subprime loans were big business for struggling lender CIT

By Kat Aaron

Troubled lender CIT Group found itself on the brink of bankruptcy Monday, as concerns regarding its liquidity and debt mounted. The company

Excerpts from this story referencing "Center for Public Integrity":

"… s a significant presence in the subprime mortgage market. According to the Center for Public Integrity’s analysis of mortgage records, CIT made at least $5,673,252,000 in subp …"

Leaders of the nation’s No. 1 subprime lender charged by the SEC

By Kat Aaron

Angelo Mozilo, founder and former CEO of Countrywide Financial — the No. 1 subprime lender in America, according to a Center for Public Inte

Excerpts from this story referencing "Center for Public Integrity":

"… trywide Financial — the No. 1 subprime lender in America, according to a Center for Public Integrity report — was charged today with securities fraud and insider trading by …"

"… s competitors,” according to an SEC press release. But, according to the Center for Public Integrity’s recent investigation, Who’s Behind the Financial Meltdown?, Countryw …"

The roots of the financial crisis: Who is to blame?

By John Dunbar and David Donald

Banks that financed subprime industry collecting billions in bailouts

Excerpts from this story referencing "American International Group":

"… lending abuses. Four of those have received bank bailout funds, including American International Group Inc. and Citigroup Inc. The Center also conducted a computer analysis of …"

"… anking regulators after big losses on their portfolios of subprime loans. American International Group (AIG), better known for insurance and complex trades in financial derivati …"

The Subprime 25

A full text list of the top 25 lending companies responsible for subprime loans

Excerpts from this story referencing "EquiFirst Corp.":

"… Citigroup Inc. Amount of Subprime Loans: At least $26.3 billion EquiFirst Corp./Regions Financial Corp./Barclays Bank plc Amount of Subprime Loans:  …"