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Latest Countrywide Financial Corp. Stories

2009-06-04 18:38:54

Countrywide Financial Corp. co-founder Angelo R. Mozilo and two former top executives were accused of fraud Wednesday by U.S. regulators. The Security and Exchange Commission filed a civil lawsuit in federal court alleging Mozilo, former president David Sambol and former chief financial officer Eric Sieracki failed to warn shareholders of the extent of risk the Calabasis, Calif., company was taking on during the housing boom, the Los Angeles Times reported. Mozilo, who was chief executive...

2008-08-07 03:00:12

By Eric Gershon, The Hartford Courant, Conn. Aug. 7--Connecticut became the fourth state to sue Countrywide Financial Corp. on Wednesday, alleging that the giant mortgage lender broke state banking and consumer laws by making loans home buyers couldn't afford and by other "oppressive, unethical, immoral and unscrupulous" practices. Attorney General Richard Blumenthal filed the suit in Superior Court in Hartford, following similar legal actions by California, Illinois and Florida....


Word of the Day
grass-comber
  • A landsman who is making his first voyage at sea; a novice who enters naval service from rural life.
According to the OED, a grass-comber is also 'a sailor's term for one who has been a farm-labourer.'