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cdog
10-26-2007, 09:26 AM
Their stock driving up the market today is a joke. Show's how moronic the wall street chimps really are. Be afraid! Be vary afraid!!
http://countrywide-foreclosures.blogspot.com/2007/10/countrywide-financial-reos-off-charts.html
Tuesday, October 23, 2007
Breaking News: Countrywide Financial REO's Off The Charts!
Update: See Below
Source: http://www.countrywide.com/purchase/f_reo.asp
89,030 REO's have "NO BROKER ASSIGNED" as contact name.
More data soon to come. No Asking Prices listed on CFC site for all these homes.
Click on State below for detailed listings.
(Note: These properties are no longer posted on Countrywide's website .)
State Count
AK 245
AL 2799
AR 985
AZ 3544
CA 28136
CO 8322
CT 1201
DC 323
DE 183
FL 8728
GA 10227
HI 811
IA 975
ID 1319
IL 5793
IN 7327
KS 1897
KY 2939
LA 1637
MA 2405
MD 2010
ME 204
MI 17319
MN 3559
MO 6069
MS 1414
MT 325
NC 7294
ND 93
NE 561
NH 613
NJ 1895
NM 1132
NV 3488
NY 3298
OH 10269
OK 3043
OR 1837
PA 5224
RI 353
SC 2798
SD 156
TN 5292
TX 15138
UT 2462
VA 3369
WA 3342
WI 2446
WV 453
WY 181
Total 195,433
Update:
There were 195,433 properties published for sale (click on state links above to see the properties) by Countrywide Financial all through last night and this morning (probably up until noon time I'm guessing). Countrywide no longer has all these properties on their site as being offered for sale and the number of REO's currently listed are back to the 13k range. This huge number of listed properties is just too huge to figure out what is going on. I truly thought those numbers were going to stay published on their site. I cannot say what Countrywide's intentions were for publishing 195,433 properties. Perhaps it was a mistake? I have no clue. The current properties offered for sale can be found here. All data on this blog is AS IS.

INSman
10-26-2007, 10:55 AM
Unless you work for Countrywide and have all of the knowledge that those of us who do have, your comments are out of line and not appreciated. Aside from originating loans, we are the number one "Loan Servicer" in the country, we only have $200 billion in assets on the balance sheet, just initiated a $16 billion foreclosure prevention initiative to help our customers, we are the 3rd largest federal savings bank in the nation paying some of the highest interest rates and projected to be back to profitability for the fourth quater of this year after reporting our first net loss in 25 years.
Now, kindly please shut your piehole and have yourself a great weekend :D

Baja Big Dog
10-26-2007, 11:04 AM
Unless you work for Countrywide and have all of the knowledge that those of us who do have, your comments are out of line and not appreciated. Aside from originating loans, we are the number one "Loan Servicer" in the country, we only have $200 billion in assets on the balance sheet, just initiated a $16 billion foreclosure prevention initiativeto help our customers, we are the 3rd largest federal savings bank in the nation paying some of the highest interest rates and projected to be back to profitability for the fourth quater of this year after reporting our first net loss in 25 years.
Now, kindly please shut your piehole and have yourself a great weekend :D
:eek:

KineticoH20
10-26-2007, 11:13 AM
Unless you work for Countrywide and have all of the knowledge that those of us who do have, your comments are out of line and not appreciated. Aside from originating loans, we are the number one "Loan Servicer" in the country, we only have $200 billion in assets on the balance sheet, just initiated a $16 billion foreclosure prevention initiativeto help our customers, we are the 3rd largest federal savings bank in the nation paying some of the highest interest rates and projected to be back to profitability for the fourth quater of this year after reporting our first net loss in 25 years.
Now, kindly please shut your piehole and have yourself a great weekend :D
Ouch, game set and match:jawdrop:

OGShocker
10-26-2007, 11:54 AM
Unless you work for Countrywide and have all of the knowledge that those of us who do have, your comments are out of line and not appreciated. Aside from originating loans, we are the number one "Loan Servicer" in the country, we only have $200 billion in assets on the balance sheet, just initiated a $16 billion foreclosure prevention initiativeto help our customers, we are the 3rd largest federal savings bank in the nation paying some of the highest interest rates and projected to be back to profitability for the fourth quater of this year after reporting our first net loss in 25 years.
Now, kindly please shut your piehole and have yourself a great weekend :D
Hi, Blane! :D :D :D

SummitKarl
10-26-2007, 12:05 PM
Unless you work for Countrywide and have all of the knowledge that those of us who do have, your comments are out of line and not appreciated. Aside from originating loans, we are the number one "Loan Servicer" in the country, we only have $200 billion in assets on the balance sheet, just initiated a $16 billion foreclosure prevention initiativeto help our customers, we are the 3rd largest federal savings bank in the nation paying some of the highest interest rates and projected to be back to profitability for the fourth quater of this year after reporting our first net loss in 25 years.
Now, kindly please shut your piehole and have yourself a great weekend :D
so I take it you need me to finish the stapling again:jawdrop: :D ...ya grouch:D

MBlaster
10-26-2007, 12:10 PM
Their stock driving up the market today is a joke. Show's how moronic the wall street chimps really are. Be afraid! Be vary afraid!!
Those monkeys are very smart. The stock has been beaten down and the shorts have made a huge killing. Thats big money in chimp lingo. The stock bumped up because of earnings news and continued to rise as investors covered their short positions. Traders seeing an opportunity jumped on the long bandwagon and are riding a nice wave, up 31% so far today. That being said the company and whole sector is deep in the shitter. Expect profit taking tomorrow as traders will continue to play Countrywide up and down.

INSman
10-26-2007, 12:11 PM
Hi, Blane! :D :D :D
Hey Mark :D :D :D
p.s. Found some 2004 RWT for a pretty good price at http://www.wine-searcher.com/wine-select.lml $69.95 local in Los Angeles ;)

INSman
10-26-2007, 12:13 PM
so I take it you need me to finish the stapling again:jawdrop: :D ...ya grouch:D
No, but if Chad could fix my mailbox that is falling apart !?! :idea: :eek: :D

ChumpChange
10-26-2007, 12:49 PM
Their stock driving up the market today is a joke. Show's how moronic the wall street chimps really are. Be afraid! Be vary afraid!!
Sounds like a certain realtor can't get a foot in the door to sell REOs. :mad: :mad: :D :D

SummitKarl
10-26-2007, 01:12 PM
No, but if Chad could fix my mailbox that is falling apart !?! :idea: :eek: :Dplease press 8 to contact the warranty dept:jawdrop: :D

OGShocker
10-26-2007, 01:14 PM
Hey Mark :D :D :D
p.s. Found some 2004 RWT for a pretty good price at http://www.wine-searcher.com/wine-select.lml $69.95 local in Los Angeles ;)
Is that the 1.75 litre bottle?

USCFAN
10-26-2007, 01:30 PM
Unless you work for Countrywide and have all of the knowledge that those of us who do have, your comments are out of line and not appreciated. Aside from originating loans, we are the number one "Loan Servicer" in the country, we only have $200 billion in assets on the balance sheet, just initiated a $16 billion foreclosure prevention initiative to help our customers, we are the 3rd largest federal savings bank in the nation paying some of the highest interest rates and projected to be back to profitability for the fourth quater of this year after reporting our first net loss in 25 years.
Now, kindly please shut your piehole and have yourself a great weekend :D
:eek:

bigq
10-26-2007, 01:34 PM
Unless you work for Countrywide and have all of the knowledge that those of us who do have, your comments are out of line and not appreciated. Aside from originating loans, we are the number one "Loan Servicer" in the country, we only have $200 billion in assets on the balance sheet, just initiated a $16 billion foreclosure prevention initiative to help our customers, we are the 3rd largest federal savings bank in the nation paying some of the highest interest rates and projected to be back to profitability for the fourth quater of this year after reporting our first net loss in 25 years.
Now, kindly please shut your piehole and have yourself a great weekend :D
So are you guys on the inside hiding something from the public?;)
$200 billion...with about 28 billion in option arms from the mortgage branch. That's kinda scary isn't it?

franky
10-26-2007, 01:50 PM
Yeah, shut your piehole! And don't start any rumors either. Countrywide is todays ENRON, watch what happens:D
Blake, I though you were an insurance guy.
Have a great weekend.

OverKill
10-26-2007, 02:42 PM
OH S**T he said ENRON. Thats gotta hurt ya think :) :)

cdog
10-26-2007, 02:42 PM
Unless you work for Countrywide and have all of the knowledge that those of us who do have, your comments are out of line and not appreciated. Aside from originating loans, we are the number one "Loan Servicer" in the country, we only have $200 billion in assets on the balance sheet, just initiated a $16 billion foreclosure prevention initiative to help our customers, we are the 3rd largest federal savings bank in the nation paying some of the highest interest rates and projected to be back to profitability for the fourth quater of this year after reporting our first net loss in 25 years.
Now, kindly please shut your piehole and have yourself a great weekend :D
HA! What do ya expect from a cheerleader! Your invested interest in the company speaks for itself. You can't run from facts. Pie hole that dick face.:D

totenhosen
10-26-2007, 02:43 PM
Unless you work for Countrywide and have all of the knowledge that those of us who do have, your comments are out of line and not appreciated. Aside from originating loans, we are the number one "Loan Servicer" in the country, we only have $200 billion in assets on the balance sheet, just initiated a $16 billion foreclosure prevention initiative to help our customers, we are the 3rd largest federal savings bank in the nation paying some of the highest interest rates and projected to be back to profitability for the fourth quater of this year after reporting our first net loss in 25 years.
Now, kindly please shut your piehole and have yourself a great weekend :D
I bet Ford, GM and Chrysler all at one time could have said something similar. ;)

cdog
10-26-2007, 02:58 PM
Sounds like a certain realtor can't get a foot in the door to sell REOs. :mad: :mad: :D :D
What's funny is the several buyers I've had ready to buy were looking at countrywide's REO's. After negotiation with the asset managers they found better deals from motivated sellers. Later I get a call form the other realtor bitching how they get stuck with all the bills and a home that's sitting because the asset managers are not willing to cut the price to market.
I'm fine with real buyers in this market compared to pie in the sky sit wait and see asset managers.
I heard the chimps on CNBC today talking about how this may be the time to jump back into housing. Were not even half way through this reset of pricing to rates and they’re talking about how it’s time to jump back in.
I want all this to be over with just as much as everyone else but this is going to take a while. At least until the sub prime resets are over by this time next year.
Ask Dr Horton or Lennar how business is in CA. They just shut down everything in CA until spring 08.
:eek:

Dave C
10-26-2007, 03:03 PM
Actually I think Wall street predicted worse and there was some level of uncertainty priced in. Everyone knows there are gonna be losses.
Their write downs and plans to cover anticipated losses were re-assuring news (notice I did not say "good" news)
Wall Street does not like "uncertainty"... even if a company is gonna post a loss, Wall Street wants to know how much that loss will be so it can be priced into the value.
Plus GAAP accounting requires that you estimate and recognize anticipated future losses in the current period. Also you must recogonize actual losses when you learn of them. All this was done this quarter.
Why don't u guys look into your crystal balls and let us know what you see :devil: ;)

Dave C
10-26-2007, 03:09 PM
I agree with you that the correction is probably not over and I think those guys are CNBC are chimps but for another reason altogether BUT;
sometimes people suffer from myopia in that they only look at the markets they are surrounded by...... I understand that the southlands have suffered heavy losses but those losses are isolated to only certain markets if you look at the nation as a whole.
We have seen some losses up north but certainly NOT in every market. Some markets are even up.
There are also markets around the country (that were not overbuilt to begin with) that are also NOT taking losses.
so how "bad" the situation is really depends on where you are located.
maybe they are not seeing just how bad it is in YOUR market. (yet) ;)
What's funny is the several buyers I've had ready to buy were looking at countrywide's REO's. After negotiation with the asset managers they found better deals from motivated sellers. Later I get a call form the other realtor bitching how they get stuck with all the bills and a home that's sitting because the asset managers are not willing to cut the price to market.
I'm fine with real buyers in this market compared to pie in the sky sit wait and see asset managers.
I heard the chimps on CNBC today talking about how this may be the time to jump back into housing. Were not even half way through this reset of pricing to rates and they’re talking about how it’s time to jump back in.
I want all this to be over with just as much as everyone else but this is going to take a while. At least until the sub prime resets are over by this time next year.
Ask Dr Horton or Lennar how business is in CA. They just shut down everything in CA until spring 08.
:eek:

Focker
10-26-2007, 03:26 PM
Unless you work for Countrywide and have all of the knowledge that those of us who do have, your comments are out of line and not appreciated. Aside from originating loans, we are the number one "Loan Servicer" in the country, we only have $200 billion in assets on the balance sheet, just initiated a $16 billion foreclosure prevention initiative to help our customers, we are the 3rd largest federal savings bank in the nation paying some of the highest interest rates and projected to be back to profitability for the fourth quater of this year after reporting our first net loss in 25 years.
Now, kindly please shut your piehole and have yourself a great weekend :D
DO YOU WORK??? :D

cdog
10-26-2007, 03:29 PM
I agree with you that the correction is probably not over and I think those guys are CNBC are chimps but for another reason altogether BUT;
sometimes people suffer from myopia in that they only look at the markets they are surrounded by...... I understand that the southlands have suffered heavy losses but those losses are isolated to only certain markets if you look at the nation as a whole.
We have seen the some losses up north but certainly NOT in every market. Some markets are even up.
There are also markets around the country (that were not overbuilt to begin with) that are also NOT taking losses.
so how "bad" the situation is really depends on where you are located.
I totally agree. All real estate is local. Some markets are starting to make sense again even after the boom. If you read the article and follow the link is goes into how 89,030 REO's have "NO BROKER ASSIGNED".
From my experience countrywide is in a “right hand doesn’t know what the left hand is doing” situation. There were 100's of people in socal last month that had loans set to fund that couldn’t because countrywide said they pulled the program. Even though the CEO was on TV talking about how all their commitments will be honored. One of them was my buyers. They ended up over at Wells. Countrywide said they could no longer print the doc’s because the program was erased from their system.
People that are very qualified to buy cannot right now unless they want to pay out the ass in rate because of all this mess. So the investors seem to be sitting on rotten eggs.
I just found out today that the neighbor’s getting foreclosed on. His renter came over and gave me the details. He was renting a $740k home for 2k a month.

INSman
10-26-2007, 03:46 PM
HA! What do ya expect from a cheerleader! Your invested interest in the company speaks for itself. You can't run from facts. Pie hole that dick face.:D
Again you speak without the benefit of knowledge, only further demonstrating your ignorance and lack of respect when you have been set straight once already today, but it seems once will not be enough
That being said, not only am I not a cheerleader, I just happen to possess the knowledge that you do not since I work for the company and either fortunately or unfortunately have exactly $0 invested interest in the company at this time. I work in the Commercial Insurance division and have nothing to do with our mortgage business.
If you want to have something positive to add or takeaway from your use of this forum that we have been provided, why don't you try to think before you speak and type next time. :)

MBlaster
10-26-2007, 03:47 PM
2008 should see more declines. The pros expect another 7% loss in value. It ain't over yet.

Trailer Park Casanova
10-26-2007, 03:48 PM
I bet Ford, GM and Chrysler all at one time could have said something similar. ;)
The next big hit to the credit market will be repos of newer vehicles.
Predicted that astronomical defaults on car loans are on the horizon.
Ziggy sold out at a good time.

cdog
10-26-2007, 03:56 PM
Again you speak without the benefit of knowledge, only further demonstrating your ignorance and lack of respect when you have been set straight once already today, but it seems once will not be enough
That being said, not only am I not a cheerleader, I just happen to possess the knowledge that you do not since I work for the company and either fortunately or unfortunately have exactly $0 invested interest in the company at this time. I work in the Comercial Insurance division and have nothing to do with our mortgage business.
If you want to have something positive to add or takeaway from your use of this forum that we have been provided, why don't you try to think before you speak and type next time. :)
Go get a real estate license and then we can talk about this in further detail. Until then stick to insurance because repeating the company newsletter doesn't make you a financial wizard.:rolleyes:
Speaking of respect. You came out slinging mud. I don't want to hear your shit.
Here some more interesting article’s to back my FACTS.
Countrywide's $1.2 billion quarterly loss first in 25 years
http://www.inman.com/inmannews.aspx?ID=65037
Countrywide director resigns day after launch of mortgage rescue plan
http://www.ibtimes.com/articles/20071025/countrywide-cisneros.htm
Home sales: Bad and worse than they seem
Census Bureau says the pace of new home sales was weaker in September and revises August's numbers to an 11-year low.
http://money.cnn.com/2007/10/25/news/economy/newhomes/index.htm?postversion=2007102512

INSman
10-26-2007, 03:56 PM
I bet Ford, GM and Chrysler all at one time could have said something similar. ;)
As Countrywide is not in the car business, I am a bit confused. What I can say is that we have become an incredibly diversified company over the past five or so years and although I do not know the exact numbers, our mortgage business represents less than 50% of our total revenues. I am pretty sure we will be around next week , next month, next year and so on. As Angelo put it, when the dust settles we will just have a much bigger piece of a smaller pie. Funny in that I have not heard of any other lenders putting together or announcing a $16 billion foreclosure prevention initiative to help their mortgage customers !!! :eek: :D

INSman
10-26-2007, 04:00 PM
Go get a real estate license and then we can talk about this in further detail. Until then stick to insurance because repeating the company newsletter doesn't make you a financial wizard.:rolleyes:
Speaking of respect. You came out slinging mud. I don't want to hear your shit.
Here some more interesting article’s to back my FACTS.
Countrywide's $1.2 billion quarterly loss first in 25 years
http://www.inman.com/inmannews.aspx?ID=65037
Countrywide director resigns day after launch of mortgage rescue plan
http://www.ibtimes.com/articles/20071025/countrywide-cisneros.htm
Home sales: Bad and worse than they seem
Census Bureau says the pace of new home sales was weaker in September and revises August's numbers to an 11-year low.
http://money.cnn.com/2007/10/25/news/economy/newhomes/index.htm?postversion=2007102512
Never professed to be the financial wizard that you must be as god knows those real estate license exams are SO difficult to pass. Oh wait, I did have my Series 7 and my Series 63, so maybe I do know something you don't after all !!
Just because you are bitter over some loan that you could not get funded for your client or whatever the issue is/was, get over it already... :rolleyes:

ChumpChange
10-26-2007, 04:06 PM
Is Blake the new Byron?:D

INSman
10-26-2007, 04:08 PM
DO YOU WORK??? :D
Yup, and rumor has it you will be hitting me up for yet another free lunch here in the very near future... :eek:
Where are the applications you said were completed ?!? :confused:

cdog
10-26-2007, 04:30 PM
Here's what I see.
For a company that is on the map due to it's mortage biz that make's up 50% of it's revenue.
It's mortage side is down 40% +.
After a $1.2 billion in third-quarter losses.
After it was forced to draw down an $11.5 billion line of credit with 40 banks
Countrywide gave Bank of America the right to buy a minority interest in the company in exchange for a $2 billion loan, and lined up another $12 billion in financing in September.
Plans to lay off up to 12,000 employees on Sept. 7 -- or 20 percent of the company's workforce
Countrywide said it expected loan volume to decline by 25 percent in 2008. Third-quarter loan production totaled $90 billion, the company said today, compared with $123 billion in the second quarter and $106 billion in the third quarter of 2006.
Countrywide now mostly originates loans eligible for repurchase by Fannie Mae and Freddie Mac, or that can be held as investments by its banking division, rather than sold to secondary market investors.
Because investors won't touch non comforming loans.
O everything's peachy.

INSman
10-26-2007, 04:40 PM
Here's what I see.
For a company that is on the map due to it's mortage biz that make's up 50% of it's revenue.
It's mortage side is down 40% +.
After a $1.2 billion in third-quarter losses.
After it was forced to draw down an $11.5 billion line of credit with 40 banks
Countrywide gave Bank of America the right to buy a minority interest in the company in exchange for a $2 billion loan, and lined up another $12 billion in financing in September.
Plans to lay off up to 12,000 employees on Sept. 7 -- or 20 percent of the company's workforce
Countrywide said it expected loan volume to decline by 25 percent in 2008. Third-quarter loan production totaled $90 billion, the company said today, compared with $123 billion in the second quarter and $106 billion in the third quarter of 2006.
Countrywide now mostly originates loans eligible for repurchase by Fannie Mae and Freddie Mac, or that can be held as investments by its banking division, rather than sold to secondary market investors.
Because investors won't touch non comforming loans.
O everything's peachy.
Never said everything was peachy, although it really is for me personally but who cares about that. I don't walk around with my head in the sand trying to pretend that there are not MAJOR problems out there for us all and the economy in general that will likely get worse before it gets better, just failed to understand and certainly did not appreciate your initial comment on how our stock going up today to help the Dow was a joke. God forbid our stock could go up at all after coming down from $45 or so to $13 and have to catch crap for it. Just can't understand with all of the bad things we all have to deal with on a daily basis during life in general that we have to help perpetuate and remind all of us just how bad things are. I try to stay cautiously optimistic, but that is just me.

talkinghead
10-26-2007, 05:58 PM
I for one won't be intimidated by INSman, and I think that is exactly what he is trying to do to.
This is basically an open forum and as such EU's are basically free to say what they want.
It looks like the stock (CFC) went up on future expectations - stock prices are not only based on past performance but also on the future I suppose. On the other hand, CFC may be hiding more losses (analyst opinion) and by early next year I think CFC will be around $10.

totenhosen
10-26-2007, 06:40 PM
I'm sure the next round of layoffs will be right before thanksgiving.

wolfie
10-26-2007, 09:26 PM
My wife use to work for a mortgage company. She also would have a little knowledge about mortgage companies. Guess who we used, not her company. We went through Countrywide for good reason.

CBadDad
10-26-2007, 09:27 PM
hmmmm... I don't think I like either one of you.
The difference between a Realtor and an insurance salesman is like a difference between a lawyer and a politician. Although [unfortunately] you are both a necessity given the fact that our country is based on law and order, you are both BLOOD SUCKING VARMINTS.
All both of you care about is get the next deal at all costs. The Realtor to get the poor guy over his head and the insurance guy to over-sell some piece of junk insurance that the guy doesn't need in the first place.
Why don't U both get real jobs and become PRODUCTIVE members of society instead of looking for the next victim that'll pay your monthly boat payments (that you probably couldn't afford otherwise)?
To start, you can start by learning how to shovel dirt so that I can hire you to do some of my landscaping work.
Great first post.
Now I have no love of RE agents, but from a layman looking in from the outside, cdog makes some great arguments and INSman has come up short. I guess we will see who is right eventually. My bet is that we will know sooner rather than later.

INSman
10-26-2007, 09:30 PM
hmmmm... I don't think I like either one of you.
The difference between a Realtor and an insurance salesman is like a difference between a lawyer and a politician. Although [unfortunately] you are both a necessity given the fact that our country is based on law and order, you are both BLOOD SUCKING VARMINTS.
All both of you care about is get the next deal at all costs. The Realtor to get the poor guy over his head and the insurance guy to over-sell some piece of junk insurance that the guy doesn't need in the first place.
Why don't U both get real jobs and become PRODUCTIVE members of society instead of looking for the next victim that'll pay your monthly boat payments (that you probably couldn't afford otherwise)?
To start, you can start by learning how to shovel dirt so that I can hire you to do some of my landscaping work.
GREAT first post ..... :rolleyes:
As far as "Insurance Sales" goes, you don't have to buy ANY except for Workers' Compensation, assuming you own a business or unless you don't have the cash to pay for something in full (car, building, forklift) to protect the finance companies interest along with minimum financial responsibility in this state as respects auto liability.
How much can I make shoveling dirt for you, I must inquire ?!? :idea: :D

cdog
10-26-2007, 10:13 PM
hmmmm... I don't think I like either one of you.
The difference between a Realtor and an insurance salesman is like a difference between a lawyer and a politician. Although [unfortunately] you are both a necessity given the fact that our country is based on law and order, you are both BLOOD SUCKING VARMINTS.
All both of you care about is get the next deal at all costs. The Realtor to get the poor guy over his head and the insurance guy to over-sell some piece of junk insurance that the guy doesn't need in the first place.
Why don't U both get real jobs and become PRODUCTIVE members of society instead of looking for the next victim that'll pay your monthly boat payments (that you probably couldn't afford otherwise)?
To start, you can start by learning how to shovel dirt so that I can hire you to do some of my landscaping work.
Hey asswipe. My boat is paid for. You sound like a victim of stupidity. A long time ago I started with a shovel. When you gather your stones and are ready to come over and repeat this to my face I'll give you my address. Until then, that beeping sound in the background means the fries are done.

INSman
10-26-2007, 10:15 PM
Hey asswipe. My boat is paid for. You sound like a victim of stupidity. A long time ago I started with a shovel. When you gather your stones and are ready to come over and repeat this to my face I'll give you my address. Until then, that beeping sound in the background means the fries are done.
:) :) :) :) :)

CA Stu
10-26-2007, 10:18 PM
Those monkeys are very smart. The stock has been beaten down and the shorts have made a huge killing. Thats big money in chimp lingo. The stock bumped up because of earnings news and continued to rise as investors covered their short positions. Traders seeing an opportunity jumped on the long bandwagon and are riding a nice wave, up 31% so far today. That being said the company and whole sector is deep in the shitter. Expect profit taking tomorrow as traders will continue to play Countrywide up and down.
The NYSE is open Saturdays now?
Who knew?
Thanks
CA Stu

CA Stu
10-26-2007, 10:27 PM
Ya know, in the blue corner, we have a man that can't spell "commercial", and in the red corner, we have a man that doesn't know the difference between a "vested interest" and "invested".
Is it any wonder the mortgage business is a total focking mess and the general public is taking it in the poop chute? I think not.
Both of you dummies are pathetic.
Thanks
CA Stu

INSman
10-26-2007, 10:34 PM
Ya know, in the blue corner, we have a man that can't spell "commercial", and in the red corner, we have a man that doesn't know the difference between a "vested interest" and "invested".
Is it any wonder the mortgage business is a total focking mess and the general public is taking it in the poop chute? I think not.
Both of you dummies are pathetic.
Thanks
CA Stu
Good catch Stu, we can always count on you to come through for us in our time of need. Can't is such a cruel word and highly inaccurate. :D

cdog
10-26-2007, 10:41 PM
Ya know, in the blue corner, we have a man that can't spell "commercial", and in the red corner, we have a man that doesn't know the difference between a "vested interest" and "invested".
Is it any wonder the mortgage business is a total focking mess and the general public is taking it in the poop chute? I think not.
Both of you dummies are pathetic.
Thanks
CA Stu
http://www.***boat.com/image_center/data/500/326540311_32b59042d0.jpg

3 daytona`s
10-26-2007, 11:27 PM
The next big hit to the credit market will be repos of newer vehicles.
Predicted that astronomical defaults on car loans are on the horizon.
Ziggy sold out at a good time.
While at the NHRA DRAGS in Vegas today did not talk to one person who is optomistic about "OUR" future:(

MBlaster
10-27-2007, 06:10 AM
While at the NHRA DRAGS in Vegas today did not talk to one person who is optomistic about "OUR" future:(
Thats sounds like a bottom.

thatguy
10-27-2007, 07:22 AM
GREAT first post ..... :rolleyes:
As far as "Insurance Sales" goes, you don't have to buy ANY except for Workers' Compensation, assuming you own a business or unless you don't have the cash to pay for something in full (car, building, forklift) to protect the finance companies interest along with minimum financial responsibility in this state as respects auto liability.
How much can I make shoveling dirt for you, I must inquire ?!? :idea: :D
Well, I pay the local 14-16 year olds up to $20.00 and hour. They were milking it so now I bid the jobs to them. Just paid the stepson and his friend $34.50 each to clear and level 340' fence line. They had to go back and touch it up after I looked at it. I usually end up firing the stepson halfway through a job and His buddy (Terrance, 15) takes the cash and subs out the work to the younger kids. Freaking scammers. ........ Kinda like both of you guys' jobs, Huh?
Tommy

welk2party
10-27-2007, 08:38 AM
Why all the hostility?
Why is that we have to berate each other to get a point across?
What happened to this is my opinion, and it happens to be completely different than yours? That used to be called a discussion.

cdog
10-27-2007, 09:14 AM
Why all the hostility?
Why is that we have to berate each other to get a point across?
What happened to this is my opinion, and it happens to be completely different than yours? That used to be called a discussion.
I agree with you. I don't go on the attack until someone get's shitty with me. We seem to have attracted a troll last night.
Unless someone here is married to Maria Bartiromo I can't see why my comments warranted the response I received.
I'll bump this in January and see how the 4th quarter was for countrywide.

INSman
10-27-2007, 09:21 AM
I agree with you. I don't go on the attack until someone get's shitty with me. We seem to have attracted a troll last night.
Unless someone here is married to Maria Bartiromo I can't see why my comments warranted the response I received.
I'll bump this in January and see how the 4th quarter was for countrywide.
Do I have to either be married to Maria Bartiromo or be Angelo to have my response be "warranted", I think not .... I will be interested to see our fourth quarter as well and can only convey what I see from the company with their guidance comments to Wall St..
God do I wish this was a perfect world we lived in, and that we nor any other company was going to or had to lay good people off from their jobs or that the credit markets were in a much better position. Just had quite a few of my neighbors laid-off from Amgen, not a pretty week in all.

cdog
10-27-2007, 09:31 AM
Do I have to either be married to Maria Bartiromo or be Angelo to have my response be "warranted", I think not .... I will be interested to see our fourth quarter as well and can only convey what I see from the company with their guidance comments to Wall St..
God do I wish this was a perfect world we lived in, and that we nor any other company was going to or had to lay good people off from their jobs or that the credit markets were in a much better position. Just had quite a few of my neighbors laid-off from Amgen, not a pretty week in all.
I'll be the first one to say I was wrong if I'm proved incorrect. :)

Focker
10-27-2007, 09:36 AM
Yup, and rumor has it you will be hitting me up for yet another free lunch here in the very near future... :eek:
Where are the applications you said were completed ?!? :confused:
ya need to get off the PR side of the business and get to work. :D You were suppose to pick them up!!

OC28HEAT
10-27-2007, 10:00 AM
the properties were sold in a reo pool and yes I have talked with the buyers:D

INSman
10-27-2007, 10:47 AM
I'll be the first one to say I was wrong if I'm proved incorrect. :)
Let's chat again this time next quarter my Shockwave brother ... :cool:

INSman
10-27-2007, 10:48 AM
ya need to get off the PR side of the business and get to work. :D You were suppose to pick them up!!
PR seems a bit easier than selling or keeping you insured !!! :eek: :D

Focker
12-11-2007, 08:11 PM
bump

INSman
12-11-2007, 09:19 PM
bump
Go to bed Focker !!! I have a present for you tomorrow !!! :eek: :D

CA Stu
12-11-2007, 11:15 PM
"just initiated a $16 billion foreclosure prevention initiative to help our customers"
Out of the goodness of their corporate heart ! HOGSHIT !
I'm not gonna get in the middle of this but INSman there is something lacking in your cheerleading rah rah. When something like this comes across the screen the believability factor quickly exits. Let's face facts here.....Countrywide doesn't give a rat's ass about their customers so do not try and blow stink in our faces and tell us it's perfume. They only care as far their own bottom line and trying to recoup some of the losses they would sustain. It's called "headin um off at the pass, Miss Kitty". The writen's on the wall.
I'd like to hear the bs you'd come up with if you took the hit some of our members in the mortgage biz did. WAH, wah, wah:cry: :cry: :cry: .....
Rio
Unless you are financed with (or invested in) Countrywide, it's none of your business.
Since you are too stupid to have any meaningful investments, and knowing your propensity for whining just because you love to whine (like any bitch does) , I say with confidence, why don't you just shut your stupid piehole, Riobitch?
You have no dog in this fight, dumbass.
Thanks
CA Stu

Rexone
12-12-2007, 03:13 AM
HOGSHIT !
I say with confidence, why don't you just shut your stupid piehole, Riobitch?
You have no dog in this fight, dumbass.
I can see this thread picking up some steam soon. :)

RitcheyRch
12-12-2007, 05:43 AM
Have that popcorn ready. :D
I can see this thread picking up some steam soon. :)

Havasu Daytona
12-13-2007, 12:06 AM
INSman...
What a joke... I am glad Countrywide is diversified so you can keep your job and your wise a$$ agressive remarks. Soon Countrywide will devist divisions or face bankruptcy.

Magic34
12-13-2007, 12:32 AM
So... Should I or should I not go and try to buy the lot I have an offer in on and build a home on it at this time? Construction would start around May/June and complete in May 2009 or so. It is going to strap the crap out of my finances, but construction costs are lower today than they were a year ago. My hopes are that in a few years I will have more than doubled my equity in a large custom home and the location is perfect for me.
The lot I am looking at was bought in 06 for $581k and my offer that they accepted is $450k which would be the lowest sale price of a lot in the development and it isn't the smallest lot. I feel it is an aggressive price for what lots are going for in my area. I am in my due diligence stage which I have 45 days. I am getting all the costs and basic plans drafted up to see if this is even possible.
Am I thinking clear or not?
Oh, and why this thread??? Countrywide is doing my construction loan.:)
My current home loan is through WaMu and they took it in the a$$ 2 days ago. My loan officer from there laughed when I mentioned construction loan. Said he was cut off from everything for now.

boatnam2
12-13-2007, 02:50 AM
we maybe have a chance to do a pay per view ***boat ufc... RIO & STU SHAWDOW & GUTRONIX(this would be a handicap match because i think giltronix would take a beating and tap out)so maybe tie a arm and leg behind shadows back...then th emain even the heavy wieghts CHARLEY versus TOBTEK in a ladder match.all proceeds going to the make lake havasu beautiful foundation.

Stoneman
12-13-2007, 04:41 AM
So... Should I or should I not go and try to buy the lot I have an offer in on and build a home on it at this time? Construction would start around May/June and complete in May 2009 or so. It is going to strap the crap out of my finances, but construction costs are lower today than they were a year ago. My hopes are that in a few years I will have more than doubled my equity in a large custom home and the location is perfect for me.
The lot I am looking at was bought in 06 for $581k and my offer that they accepted is $450k which would be the lowest sale price of a lot in the development and it isn't the smallest lot. I feel it is an aggressive price for what lots are going for in my area. I am in my due diligence stage which I have 45 days. I am getting all the costs and basic plans drafted up to see if this is even possible.
Am I thinking clear or not?
Oh, and why this thread??? Countrywide is doing my construction loan.:)
My current home loan is through WaMu and they took it in the a$$ 2 days ago. My loan officer from there laughed when I mentioned construction loan. Said he was cut off from everything for now.
We are in the same boat, so to speak. We own our lot and are thinking of building on it now that construction cost should have retracted from 06 levels. One of the three builders that are bidding out our plans meets with us tomorrow so we'll get some idea. However, from what I have seen around town the builders are reluctant to lower their prices, we'll see.

pancho
12-13-2007, 05:41 AM
countrywide sux,i live on a lake and have to carry flood insurance which i have through FEMA which is 20% greater than assed replacement building value,for 7 months now countrywide has been sending me threatening letters that if i dont show proof of ins they will attach themselves which would add $110.00 a month to my payment,my coverage is above what is required by law,i wanted more because based on some builds and remodels in the neighborhood i felt the assesment to be low,i have sent registered mail and faxes 13 times and just received a letter yesterday that i have 30 days to comply or they proceed and bill me,we started this dialog in May,when i call the number on the letter everytime someone says they have received nothing,they will not accept my documents if i send them with signature required,this reminds of a credit card company that tries to get you out of the low interest to the really high any way they can,attorney generals office has accepted my complaint but cant act right away do to the amount of countrywide complaints,now i have pay an attorney and i`m sure they will send a goon squad to fight,their businesss tactics make me sick,i`d be ashamed to work for them!

OC28HEAT
12-13-2007, 06:17 AM
countrywide sux,i live on a lake and have to carry flood insurance which i have through FEMA which is 20% greater than assed replacement building value,for 7 months now countrywide has been sending me threatening letters that if i dont show proof of ins they will attach themselves which would add $110.00 a month to my payment,my coverage is above what is required by law,i wanted more because based on some builds and remodels in the neighborhood i felt the assesment to be low,i have sent registered mail and faxes 13 times and just received a letter yesterday that i have 30 days to comply or they proceed and bill me,we started this dialog in May,when i call the number on the letter everytime someone says they have received nothing,they will not accept my documents if i send them with signature required,this reminds of a credit card company that tries to get you out of the low interest to the really high any way they can,attorney generals office has accepted my complaint but cant act right away do to the amount of countrywide complaints,now i have pay an attorney and i`m sure they will send a goon squad to fight,their businesss tactics make me sick,i`d be ashamed to work for them!
if this story were 10 percent true i would let them add not pay the difference let them forclose and in mass file a counterclaimin the the foeclosuresure acion not giving legal advise but if it were me i would own the house free and clear

pancho
12-13-2007, 06:27 AM
obviously i take offense to the 10% true part,what was youre point other than being a clown,as to let them foreclose there is some sound legal advice there,i`m sure youre safe in youre welfare paid apartment,do you own a stereo shop in havi or sunk aboat same level of intelligence

YeLLowBoaT
12-13-2007, 06:35 AM
1st they can make you have what ever they want in INS... its part of the contract you signed. If you have proof of the INS send it to them in a certfied letter... if not they are going to add the 110 to your payment...

pancho
12-13-2007, 06:40 AM
the more i think about it youre post was really offensive,my fiancee has done most of the leg work because i work out of state,this shit has cost her alot of wasted time at her job she hates to deal with anything personal on company time,you should have been here when the letter arrived two days ago,it brought tears to her eyes and all she could say was how do we fight these people,she`s feeling very helpless right now,NOT COOL

pancho
12-13-2007, 06:47 AM
many phone calls have resulted in their preference is a fax,this has been done many times,same result,we have all of the transmission receipts yet they still claim they never received,our bank has also tried to intervene,small town bank where our mortgage is taken every month,my fiancee and the banker are on a first name basis over this,she has some real nice things to say on this subject,this bs has cost everone alot of wasted time

Rexone
12-13-2007, 07:23 AM
If you send something certified to a known good address and they refuse to sign and the item is returned to you I believe you can use that item in court against the party. Not that you should have to go to court on this issue. Sounds like they are being fuktards. Any insurance requirements and limits should also be spelled out in detail in the loan contract somewhere.

C-2
12-13-2007, 07:24 AM
obviously i take offense to the 10% true part,what was youre point other than being a clown,as to let them foreclose there is some sound legal advice there,i`m sure youre safe in youre welfare paid apartment,do you own a stereo shop in havi or sunk aboat same level of intelligence
Uhhh, I think he was trying to help. He knows what he's talking about. ;)
Have you asked your neighbors what they do or did with their insurance requirements?

pancho
12-13-2007, 07:28 AM
update,now they are saying insurance proof has been received,my bad,my girl didnt read the whole document i just did,what they are saying now is they want our coverage amount increased over the asessed value of the home which is 20-25% greater than what we owe on our home,i am sure this all perfectly legal and there is nothing we can do about it,my point was and still is they have been a very unsavory company to deal with,our previous lender sold our mortgage to countrywide some years ago and we jumped on the low rates refi a few years back which took 1.5 points off of our interest rate,at the time we had no trouble with them.this flood insurance dealio has been anything but fun,just once it would be nice to get someone on the phone that gave a crap,no one will give their extension so we could just deal with the same person,every call goes to a 1-800 number and we have to start all over with another person,i guess i was venting a little just getting frustrated with these guys

Rexone
12-13-2007, 07:36 AM
The insurance requirements and limits of coverage required should be spelled out in the loan.

pancho
12-13-2007, 07:40 AM
c-2,my girl has talked with neighbors so what i know is second hand,my next door neighbors house is valued higher and when this started in the spring she went over there and they sat down together and found we are paying more than they are,dont know who there lender is and what difference that could make but i assume its a company by company thing,if we increase our coverage on our own with our insurance company its a small amount,what rubs me is a bully type approach and lack of concern when we try to resolve this,i understand this is a huge company with many employees just once it would be nice to get a person on the phone that would help us to the end

pancho
12-13-2007, 07:47 AM
my first post may have had some factual errors,for that i am humbled,as to the amount of times we sent the documents that is 100% true

INSman
12-13-2007, 07:50 AM
So... Should I or should I not go and try to buy the lot I have an offer in on and build a home on it at this time? Construction would start around May/June and complete in May 2009 or so. It is going to strap the crap out of my finances, but construction costs are lower today than they were a year ago. My hopes are that in a few years I will have more than doubled my equity in a large custom home and the location is perfect for me.
The lot I am looking at was bought in 06 for $581k and my offer that they accepted is $450k which would be the lowest sale price of a lot in the development and it isn't the smallest lot. I feel it is an aggressive price for what lots are going for in my area. I am in my due diligence stage which I have 45 days. I am getting all the costs and basic plans drafted up to see if this is even possible.
Am I thinking clear or not?
Oh, and why this thread??? Countrywide is doing my construction loan.:)
My current home loan is through WaMu and they took it in the a$$ 2 days ago. My loan officer from there laughed when I mentioned construction loan. Said he was cut off from everything for now.
Should have called me, I may have ben able to get you a better deal. Use your damn noggin next time :)

C-2
12-13-2007, 07:56 AM
c-2,my girl has talked with neighbors so what i know is second hand,my next door neighbors house is valued higher and when this started in the spring she went over there and they sat down together and found we are paying more than they are,dont know who there lender is and what difference that could make but i assume its a company by company thing,if we increase our coverage on our own with our insurance company its a small amount,what rubs me is a bully type approach and lack of concern when we try to resolve this,i understand this is a huge company with many employees just once it would be nice to get a person on the phone that would help us to the end
There's nothing worse than listening to the English language being hacked by somebody in the Phillipines or India (it can be funny too)...so maybe not getting on the phone is actually better. :) If it's not on their written script, they really aren't much help. They end every sentence with, my friend.
Try this number, it's supoosed to get you a live person 800‑669‑5864 Press 0 at each prompt, ignoring messages. :) my friend

Magic34
12-13-2007, 08:09 AM
Should have called me, I may have ben able to get you a better deal. Use your damn noggin next time :)
You think I just called anybody? Come on man, you know me better than that. My hook up is over your head. :D :D :eek: No points and easy process. :)
Seriously though, a good friend runs 9 offices for CW. :)
I am at the boarderline of being able to afford it, that is my main issue.

INSman
12-13-2007, 08:12 AM
You think I just called anybody? Come on man, you know me better than that. My hook up is over your head. :D :D :eek: No points and easy process. :)
Seriously though, a good friend runs 9 offices for CW. :)
I am at the boarderline of being able to afford it, that is my main issue.
Ouch, that's gonna leave a mark ....:eek: I'll be sure to remove ALL of the spiders and scorpions out of the bed in the guest room before you sleep in it .. :D

Magic34
12-13-2007, 08:15 AM
Ouch, that's gonna leave a mark ....:eek: I'll be sure to remove ALL of the spiders and scorpions out of the bed in the guest room before you sleep in it .. :D
There are probably scorpions hiding in my suitcase. I'll be bringing them in!!! :eek:

pancho
12-13-2007, 08:24 AM
thanks,will do,whats funny about this whole deal is in May they said we did not have coverage(not true),so trying to prove it is where things sucked,at that time they said the amount of coverage we needed(done)so a couple days ago i receive a letter stating we do not have adequate coverage(wtf),the amount we have is greater than what they said we needed in may,now maybe i`m not the smartest sob around but this just looks like an increase.I realise by carrying the insurance myself countrywide dosen`t make a dime but if they dont see the coverage amount increased in there allotted time guess what happens

cdog
12-13-2007, 08:45 AM
thanks,will do,whats funny about this whole deal is in May they said we did not have coverage(not true),so trying to prove it is where things sucked,at that time they said the amount of coverage we needed(done)so a couple days ago i receive a letter stating we do not have adequate coverage(wtf),the amount we have is greater than what they said we needed in may,now maybe i`m not the smartest sob around but this just looks like an increase.I realise by carrying the insurance myself countrywide dosen`t make a dime but if they dont see the coverage amount increased in there allotted time guess what happens
I suppose that's how they're going to turn a profit from the other side of their business. Pressure people to insure with them. :)

catman-do
12-13-2007, 08:49 AM
PANCHO- Part of the instruments you signed would have spelled out how your insurance is to be held and what limitations the investor could set upon you. Countrywide being the investor, if they do not agree with the way the instruments are drawn up, then they cannot purchase the loan. Flood insurance is something that almost every investor out there will require if your property is in a flood zone, and can also be VERY expensive.
FYI- chances are the "lender" you delt with that sold the loan to countrywide, was not an actual lender. Chances are they were correspondant with countrywide funding off their own warehouse line. Countrywide services a majority of the loans they originate and sell some of them to HSBC. They do not do a large amount of paper purchasing on the secondary side like bear, lehman, citi, and bofa. However, as B of A possitions themselves to takeover countrywide, you will see them start to see them get more into the secondary side.

pancho
12-13-2007, 08:50 AM
thats what it seems like,never once have we received anything that would point to why the coverage should be increased,it`s just the way it is i guess,it`s like someone telling you to do something but wont tell you why

pancho
12-13-2007, 09:00 AM
i am sure they have some sort of table with several factors many more than i`m sure i will ever know,the original mortgage was written 19 years ago and taken through our local bank,countrwide as a lender came in when we refinanced 2.5years ago,just spoke with my neighbor she said her flood ins. hasnt changed in 1.5 years,just thinking their quote might have been low
this spring and it was just caught?