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Countrywide's "Recreated" (Certainly-not-forged) Bankruptcy Evidence...



January 08, 2008 – Comments (8)

This is simply incredible.

"“These letters are a smoking gun that something is not right in Denmark,” Judge Agresti said in a Dec. 20 hearing in Pittsburgh."

And Mr. Orange wonders why people consider his company sleazy?

8 Comments – Post Your Own

#1) On January 08, 2008 at 3:13 PM, JoeandChuckP (81.54) wrote:

How sick is this?  First I get pissed at people that bite off more than they can chew on mortgages, and then a lender does this sh!t?  Are there any scruples left (as I type this from work...)

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#2) On January 08, 2008 at 5:20 PM, Imperial1964 (93.41) wrote:

Unbelieveable.  I hope CFC gets the crap sued out of them over it!

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#3) On January 08, 2008 at 7:00 PM, devoish (65.42) wrote:

You might be interested in this take on the subject.

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#4) On January 08, 2008 at 8:58 PM, abitare (29.51) wrote:

I was short CFC and then I closed my position way to early. I was such a FOOL!!!!

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#5) On January 08, 2008 at 10:07 PM, DemonDoug (31.42) wrote:

While the calculated risk editorial makes some sense, the original article notes that the chapter 13 trustee in pittsburgh has 300 BK cases where CFC has come under scrutiny.  It wouldn't be that hard for the bankrupcy lawyer to contact CFC and get this worked out with management, which leads me to believe that CFC knows what it is doing and is indeed putting the screws to their customers as much as they can.

CFC is toast, and good riddance by the looks of it.

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#6) On January 09, 2008 at 1:22 AM, dwot (28.81) wrote:

I saw this one this morning as well, disgusting.

CR is far more generous than I am in assessment of it. 

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#7) On January 09, 2008 at 11:30 AM, TMFBent (99.17) wrote:

Pretty interesting stuff at CR there. In the end, looks to be appalled, like most would be, that the simians at CFC would submit "recreated" evidence of this kind, out of ignorance -- so they claim -- or to try and lie their way to a judgment -- that's my bet.

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#8) On January 10, 2008 at 10:50 AM, saunafool (< 20) wrote:

I am amazed that there are 300 disputed BK proceedings only against CFC, and only in Pittsburg. Pittsburg is rust belt, but they have been making a reasonable transition away from a rust belt economy--it is not Detroit or Cleveland.

Pittsburg isn't even that big of a city, nor did they have bubble housing prices. If there are 300 in Pitt, how many are there in L.A.?

But, we should see the bottom in the second half of this year, followed by gradual increases (NAR). Sure, you betcha.

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