TITLE

Countrywide Answers Critics on Loan Steering Accusations

AUTHOR(S)
Collins, Brian
PUB. DATE
September 2007
SOURCE
National Mortgage News;9/3/2007, Vol. 31 Issue 48, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the move of Countrywide Financial Corp. (CFC) to answer the critics who accused the firm of steering borrowers into high-cost loans to increase profits in Washington D.C. According to the firm, they reject the criticisms that have been leveled against them based upon false facts and mischaracterizations of their lending practices. U.S. Senator Charles Schumer, who accused CFC, urged the firm to waive prepayment penalties and help refinance its subprime borrowers.
ACCESSION #
26471456

 

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