tag:blogger.com,1999:blog-18675105.post2810427580019488829..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: Countrywide Mortgage's Orange Mozilo says he did no marketing to potential homebuyers. "They came to us". Sorry, Angelo. Incorrect. Liar.bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger22125tag:blogger.com,1999:blog-18675105.post-63413221151265263542007-09-01T21:18:00.000+01:002007-09-01T21:18:00.000+01:00I watched Maria interview orangy-missed him saying...I watched Maria interview orangy-missed him saying "we didn't reach out to borrowers-they came to us-boy what a lie-I had numerous unsolicited phone calls from countrywide people-in-unknown-positions asking me to refinance, and as recently as july 2007-i had to tell them their company was in big trouble-they all went-"duh?" Finally I screamed-do not call me again-I have no mortgage, do not want a mortgage and would not qualify for a mortgage as I am not employed - go away.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-35447978552474874192007-09-01T03:47:00.000+01:002007-09-01T03:47:00.000+01:00What's wrong with his eye?What's wrong with his eye?shttps://www.blogger.com/profile/15052796962384981068noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-13183707004167872472007-09-01T02:39:00.000+01:002007-09-01T02:39:00.000+01:00"So Maria...Does the orange come off when you suck..."So Maria...Does the orange come off when you suck it"??---<BR/><BR/>POST OF THE DAY!! Bravo!! I needed that after a long hard day in Subprime Land....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-46986465910272128022007-08-31T22:17:00.000+01:002007-08-31T22:17:00.000+01:00Looks like he saw a GHOST!Wher'd the orange glow g...Looks like he saw a GHOST!Wher'd the orange glow go Mozero?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-33040642039034340192007-08-31T19:35:00.000+01:002007-08-31T19:35:00.000+01:00Maria needs a good hard, stiff one for about an ho...Maria needs a good hard, stiff one for about an hour.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-59324822889551221812007-08-31T17:21:00.000+01:002007-08-31T17:21:00.000+01:00Countrywide is a horrible lender. They took too l...Countrywide is a horrible lender. They took too long with subordinations for their seconds, sometimes costing borrowers their rate locks.<BR/><BR/>Everytime a payoff was requested, they would contact the borrower directly to try and offer a better deal than the new lender they were trying to work with.<BR/><BR/>Worst of all, they bought so many mortgages to service, even if a homeowner got their loan through someone else, there was a high probability their mortgage check would be made out to Countrywide.<BR/><BR/>I'm not buying it either. Countrywide disgusts me and I have never originated a loan through them.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-21941042644061979112007-08-31T16:16:00.000+01:002007-08-31T16:16:00.000+01:00"One question - didn't these subprime borrowers ha..."One question - didn't these subprime borrowers have PMI?"<BR/><BR/>maybe that's why the industry likes 100% loans! I understand that such arrangements got around PMI...<BR/><BR/>so, class: "who wins with creative financing?"Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-62597667047130242252007-08-31T16:13:00.000+01:002007-08-31T16:13:00.000+01:00One question - didn't these subprime borrowers hav...One question - didn't these subprime borrowers have PMI? Why aren't we hearing about the insurance companies getting hammered by defaults? <BR/><BR/>------------------------------<BR/><BR/>Aha! Great question! It is, I think, due to the 80-20 mortgages, where you get your 20% down from a separate (I think recourse)loan. So even though you are financing 100% of your purchase, you avoid the PMI because your actual mortgage accounts for only 80% of the financing. <BR/><BR/>This is one of the ways that banks like to "make it happen" -- a very creative method of shoehorning people into mortgages that they really should not have.<BR/><BR/>Now, I agree that it is odd that there hasn't been ANY news of insurance companies getting hammered by PMI claims. Perhaps 80-20 loans were so prevalent that they made PMI a thing of the past (at least for a little while). Or maybe insurance companies are not as retarded as banks are in their ability to assess risk, and therefore refused to offer PMI on rotten loans, or were not willing to charge a risk premium as low as as the banks were.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-68887821125483107082007-08-31T16:02:00.001+01:002007-08-31T16:02:00.001+01:00Hmm...I think Mozillio originated the bathroom sta...Hmm...<BR/><BR/>I think Mozillio originated the bathroom stall code at the airports...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-64343838790923914042007-08-31T16:02:00.000+01:002007-08-31T16:02:00.000+01:00If you do an 80/20, 80/10/10, etc, there is no PMI...If you do an 80/20, 80/10/10, etc, there is no PMI. So, the insurance companies don't care.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-71481130394377433232007-08-31T15:55:00.000+01:002007-08-31T15:55:00.000+01:00Interesting, because in Maryland, Countrywide's lo...Interesting, because in Maryland, Countrywide's loan officers would visit real estate agency's and leave their cards, flyers etc, and urge the agents to send theirclients to Countrywide. Nope, Countrywide didn't reach out to anybody...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-31448389375265999152007-08-31T15:36:00.000+01:002007-08-31T15:36:00.000+01:00it's probably true. first you give free dope away...it's probably true. first you give free dope away and then, once "your clients are hooked," take them to the cleaners. that's what subprime is about to me.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-62456312038241126522007-08-31T15:31:00.000+01:002007-08-31T15:31:00.000+01:00So, Maria, does the orange come off when you suck ...So, Maria, does the orange come off when you suck it?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-86088911006239364352007-08-31T14:27:00.000+01:002007-08-31T14:27:00.000+01:00One question - didn't these subprime borrowers hav...One question - didn't these subprime borrowers have PMI? Why aren't we hearing about the insurance companies getting hammered by defaults?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-54700348990160350312007-08-31T14:24:00.000+01:002007-08-31T14:24:00.000+01:00bitter said... The selfish Libertarians and Ron...bitter said...<BR/><BR/> The selfish Libertarians and Ron Paul supporters want to bailout for Mozillo. Vote for Hillary. She is opposed to any bailout.<BR/><BR/> August 31, 2007 12:14 PM <BR/>___________________________________<BR/><BR/><BR/>HILLARY WAS THE ONE WHO PROPOSED BAILOUT FIRST YOU IDIOT.<BR/><BR/>http://tinyurl.com/2oxeasAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-70989181302584903272007-08-31T14:17:00.000+01:002007-08-31T14:17:00.000+01:00You rock Keith!:-)Keep up the fight against the RE...You rock Keith!<BR/><BR/>:-)<BR/><BR/>Keep up the fight against the REIC<BR/><BR/>David<BR/>Bubble Meter BlogDavidhttps://www.blogger.com/profile/11169148764438565562noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-63565408597891925772007-08-31T14:06:00.000+01:002007-08-31T14:06:00.000+01:00That's the most ridiculous thing I've ever heard. ...That's the most ridiculous thing I've ever heard. Up until just a few weeks ago I've been receiving Countrywide refi letters at least once a week. No, sorry, I am not interested in refinancing to a 40-year loan!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-50710378734414201572007-08-31T12:51:00.000+01:002007-08-31T12:51:00.000+01:00WTF?!?Countrywide pesters me every damn month to s...WTF?!?<BR/><BR/>Countrywide pesters me every damn month to switch from a sweet fixed-rate to a toxic ARM. They just don't quit, no matter how many times you tell them "no" and "don't call back".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-15798076554281870012007-08-31T12:14:00.000+01:002007-08-31T12:14:00.000+01:00The selfish Libertarians and Ron Paul supporters w...The selfish Libertarians and Ron Paul supporters want to bailout for Mozillo. Vote for Hillary. She is opposed to any bailout.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-57510603774173301042007-08-31T10:52:00.000+01:002007-08-31T10:52:00.000+01:00http://abcnews.go.com/Nightline/Story?id=3030705&p...http://abcnews.go.com/Nightline/Story?id=3030705&page=3<BR/><BR/>Casey Serin under investigation by FBI. Charges expected.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-21698401873806625692007-08-31T10:48:00.000+01:002007-08-31T10:48:00.000+01:00Id be interested in seeing how they "tailored" the...Id be interested in seeing how they "tailored" the loans and loan standards as it progressed. The last ones written that are going to reset in a couple years are gonna be the ugly ones.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-37532480856689729582007-08-31T10:25:00.000+01:002007-08-31T10:25:00.000+01:00NOW HIRING: Large mortgage company executive seeks...NOW HIRING: Large mortgage company executive seeks body double for 'permanent assignment'. Orange applicants only need apply.Anonymousnoreply@blogger.com