In 1985 Countrywide Financial stock was re-listed on the New York Stock Exchange under the ticker symbol CFC.
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15 Facts About Countrywide Financial
1.
2.
In 1997, Countrywide Financial had spun off Countrywide Financial Mortgage Investment as an independent company called IndyMac Bank.
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3.
Countrywide Financial Bank is the 3rd largest Savings and Loan institution and is the fastest growing bank in United States history.
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4.
In 2003, Countrywide Financial was the subject of a class-action lawsuit alleging overtime violations.
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5.
Additionally, Countrywide Financial is one of many companies that conducts in-depth background searches of new employee applicants.
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6.
Countrywide Financial maintains a policy of not filing the legally required Internal Revenue Service Form 1099 to independent brokers.
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7.
Countrywide Financial agreed to a settlement with New York state attorney general Eliot Spitzer to compensate black and Hispanic borrowers improperly steered by Countrywide Financial salespeople to higher-cost loans.
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8.
Countrywide Financial agreed to improve training and oversight of its loan officers and to pay New York state $200,000 to cover costs of the investigation.
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9.
Some customers have complained that after the devastating hurricanes Katrina, Gustav and Rita, Countrywide Financial told loan customers in the affected areas that they could take a break on payments without any late fees, and the payments would be added back to the end of the loan.
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10.
Countrywide Financial received loans for over $3 million while CEO of Fannie Mae.
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11.
Countrywide Financial issued a statement that its mortgage business has access to a nearly $50 billion funding cushion.
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12.
Only days later, Countrywide Financial disclosed to the US Securities and Exchange Commission that these disruptions in the secondary mortgage markets could hurt it financially:.
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13.
In September 2008, Countrywide Financial sent letters to its mortgage customers to inform that one of their employees had stolen identity information that contained social security numbers and birth dates.
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14.
Countrywide Financial apologized in the letter and offered free credit monitoring for 90 days.
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15.
Countrywide Financial shareholders approved the deal on June 25,2008 and it closed July 2,2008.
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