Countrywide...again!!!

[Baja Big Dog]

Looks like they just cut another 900 jobs!!!!
500 last week....
That should cut costs!!:eek:

[Tequila-John]

Looks like they just cut another 900 jobs!!!!
500 last week....
That should cut costs!!:eek:
IT WILL GET WORSE BUD!!!!

[Tequila-John]

Looks like they just cut another 900 jobs!!!!
500 last week....
That should cut costs!!:eek:
IT WILL GET WORSE BUD!!!!

[Trailer Park Casanova]

Sorry to read it.

[TOBTEK]

triming alot of fat at CW. Have you MTG guys and gals seen a huge slow down in underwritting? I wont even tell you my current Downey nightmare:confused:

[riverracerx]

My wife saw a dramatic decrease in underwriting. :D
Now she is at a new company!

[Havasu1986]

Wow...And I just gave a quote to a G.C. for a new Countrywide office in L.A. :D It was only about 2500 sg ft.

[BadKachina]

I hope they cut the guy out that keeps sending me fliers in the mail.:rolleyes:

[totenhosen]

This is probably the 1st of 3 or 4 cuts by the end of the year.

[MBlaster]

Now if they would just fire that spokes guy.
Damn I'm sick of looking at his crooked puss.:mad:

[Baja Big Dog]

This is probably the 1st of 3 or 4 cuts by the end of the year.
OUCH!!!:mad:

[Trailer Park Casanova]

Now if they would just fire that spokes guy.
Damn I'm sick of looking at his crooked puss.:mad:
Looks like a poor mans John Kerry. Needs to swallow what ever it is he's eating before he talks.

[Parker Dreamin]

That is sure a bummer.... damn.

[257]

creative lending programs still around ?????

[INSman]

I think we are trying to load all this bad stuff into this one quarter before it ends as we already know it is going to be an awful quarter and our stock price can't really take too much more of a beating.
Just a guess though...:confused:

[HocusPocus]

IT WILL GET WORSE BUD!!!!
looks like your right.. another 12,000 jobs countrywide will be cutting. :(
LOS ANGELES (AP) — Struggling lender Countrywide Financial Corp. said Friday it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry. The company said the cuts, amounting to as much as 20 percent of its work force, are needed because it expects new mortgages to fall about 25 percent in 2008 from this year's levels.

[scarabrick2]

They are selling there houses @ 50 cents on the dollar.... You can buy them in blocks.... I wish I had a spare million in the bank so I can pick up a few houses. Hell, I wish i some money in the bank :)
This is NO BS....

[al cole'holic]

They are selling there houses @ 50 cents on the dollar.... You can buy them in blocks.... I wish I had a spare million in the bank so I can pick up a few houses. Hell, I wish i some money in the bank :)
This is NO BS....
..where are these at?? I get a list on my desk every Monday on holdings direct from Countrywide and there ain't anything like that...

[RitcheyRch]

http://cbs2.com/topstories/local_story_250200408.html
Struggling lender Countrywide Financial says it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry.
The Calabasas-based company says the cuts, amounting to as much as 20 percent of its work force, are needed because it expects new mortgages to fall about 25 percent in 2008 from this year's levels.
Countrywide's chairman and CEO says the job cuts are expected to center primarily on the company's production divisions and its general and administrative support areas.
He also called the current market cycle "the most severe in the contemporary history of our industry."
The latest cuts follow the elimination of about 900 positions earlier this week and 500 others last month.

[cdog]

They are selling there houses @ 50 cents on the dollar.... You can buy them in blocks.... I wish I had a spare million in the bank so I can pick up a few houses. Hell, I wish i some money in the bank :)
This is NO BS....
Total BS! Maybe .90 on the dollar at the moment.

[CA Stu]

Total BS! Maybe .90 on the dollar at the moment.
I agree, and that's why I'm still waiting. :D
What do you think about the Bush bailout program for people facing foreclosure?
Thanks
CA Stu

[cdog]

I agree, and that's why I'm still waiting. :D
What do you think about the Bush bailout program for people facing foreclosure?
Thanks
CA Stu
It's just some feel good legislation. It's won't affect much here in CA because the home prices are so high. The FHA limit is a little over half of the OC median price and 75% of the IE's median. You'll know how serious they are when they raise the conforming loan limits. That would help more than a rate cut.

[mbrown2]

..where are these at?? I get a list on my desk every Monday on holdings direct from Countrywide and there ain't anything like that...
Yep...its another case of its true cause its written on the internet.... .50 cents on the $$ ..get real! :)