concrete
  • Report: #359976

Complaint Review: Countrywide Mortgage

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  • Submitted: Wednesday, August 06, 2008
  • Last Posting: Tuesday, March 24, 2009
  • Reported By: — Eagleville Pennsylvania
Countrywide Mortgage
CT Hartford Connecticut U.S.A.

Countrywide Mortgage Chickens coming home to roost for Countrywide - - here's hoping Conseco is right behind them Hartford Connecticut


1Author 0Consumer 1Employee/Owner

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Associated Press Release - FINALLY SOMEONE IS TAKING ACTION

HARTFORD, Conn. - Connecticut Attorney General Richard Blumenthal said Wednesday the state is suing Countrywide Financial Corp., alleging it misled borrowers into taking on risky home loans they could not afford.

Blumenthal alleged the mortgage giant violated state consumer protection laws and charged unjustified fees to homeowners who defaulted.

The company said in a statement that it cannot comment on pending litigation but noted it has previously announced its commitment to responsible lending practices.

California, Illinois and Florida have filed similar lawsuits against California-based Countrywide, whose shareholders recently approved a takeover by Bank of America.

A federal grand jury has been investigating Countrywide and other lenders at the center of the mortgage crisis.

Debbie
Eagleville, Pennsylvania
U.S.A.

This report was posted on Ripoff Report on 8/6/2008 2:21:14 PM and is a permanent record located here: http://www.ripoffreport.com/mortgage-companies/countrywide-mortgage/countrywide-mortgage-chickens-aza36.htm.

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REBUTTALS & REPLIES:
1Author 0Consumer 1Employee/Owner
Updates & Rebuttals

#1 Employee

And you are blaming Conseco why, exactly?

AUTHOR: Mrpicture - Spring Arbor (U.S.A.)

SUBMITTED: Tuesday, March 24, 2009

Conseco has not owned Green Tree Financial for years. They are sorry they ever heard of them. Their dishonest company caused the bankruptcy of Conseco Financial (which no longer exists).

In 1998, Conseco FINANCIAL purchased Green Tree financial (GTF). The owners of GTF LIED on their financials: they had many non-performing loans that were hidden from Conseco Financial. This subsequently caused Conseco Financial to go into bankruptcy.

In 2003, Conseco emerged from bankruptcy: this is found on the FREE LIBRARY website: http://www.thefreelibrary.com/Conseco+gets+approval+to+leave+bankruptcy.(Companies)(Brief+Article)-a0109904858

"A plan for reorganizing a firm during the Chapter 11 bankruptcy process has been approved by the court, paving the way for the company to come out of bankruptcy as an insurance-only operation."

Conseco no longer has a mortgage business, so take care when slandering the company, lest you be served with a civil suit.

I am not a direct employee of Conseco, but work for a subsidiary, PMA.
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