No, now they will INCREASE the spam and evening phone calls from India wanting to sell you a new mortgage!.............
Fed Accepts $19 Bln In 3-Day RPs
Last update: 8/10/2007 8:29:28 AM
Type of transaction: 3-Day RPs
Total accepted: $19 Bln
Total submitted: $31.2 Bln
Mortgage-Backed Collateral Operations
Total accepted: $19 Bln
Total submitted: $31.2 Bln
Stop-Out Rate: 5.15%
Weighted Average: 5.24%
High-rate submitted: 5.35%
Low-rate submitted: 4%
(Data was provided by the New York Federal Reserve Bank).
Not surprising really, just hope the government doesn’t do something stupid and bail them out.
What does this mean for those of us with countrywide mortgages?
The chairman and chief executive of mortgage lender Countrywide Financial Corp. exercised options for 92,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Wednesday
In a Form 4 filed with the SEC, Angelo R. Mozilo reported he exercised the options for shares on Wednesday for $14.69 apiece and then sold all of them the same day for $28.74 apiece.
don’t forget the 110,000 shares from the day before and the 824,000 shares July 1st! for a net gain of $17.2 million.
I’d say that’s pretty well contained.
Yet Countrywide reported as of June 30 has 187B in cash. I believe they will do ok. I like Countrywide and have a mortgage with them... very conventional one.
In the real world that can be translated as, if someone don't buy our worthless paper we are going broke!
Too bad. Countrywide has always treated me right. Can’t say that for any of the others I’ve used.
Aren’t they really, really BIG? And respectable? Like Enron? How can Ditech be cleaning their clock? I thought they were just a scam, though since they were bought by GMAC I had to figure they were a playa.
Gawd just get their incessant commercials off my TV with that obnoxious ugly guy. And quit wearing a button down shirt with a suit jacket and no tie, it looks terrible!
Just wondering: Who’s stoopidah, the people who took out these loans they couldn’t repay or the folks who made them.
WE LOST OUR SHORTS TO DITECH!
You'll probably just get more of them.
We're 2 months shy of paying them off after 15 years (wahoooo! big party with fire pit) and called with them a few weeks back to have them stop withholding tax escrow --- (need to do it ourselves now) and immediately were hit with home equity offers.
It's just business --- nothing personal. ;~))
wonder if alan greenspan is thinking and thinking and thinking
of solutions,
since it’s his reputation that’s going
down.