Tuesday, September 4, 2007

Who's Unethical -- Countrywide or The New York Times?

The New York Times is my favorite news source. If I don't read anything else in a day, I always read the NYT. So when I read this article last week about the alleged unethical practices of Countrywide, I said to everyone I know, "Can you believe that Countrywide has done all of these things?!"

And several people said, "No, they don't. We use their software and we've done many loans with them -- they don't do that."

And now Countrywide is going head to head with Senator Schumer and insisting that it hasn't engaged in those unethical business practices.

"The New York senator referred to abusive lending practices reported in a New York Times article, which Countrywide says "contained numerous inaccuracies and 'facts' taken out of context." The Calabasas, Calif.-based lender said its business processes prohibit steering and that it does not pay its loan officers higher commissions for making sub-prime loans with prepayment penalties. "

I think I'll make some popcorn -- I can't wait to see who's lying!

"If you don't read the newspaper, you're uninformed. If you read the newspaper, you're misinformed." -- Mark Twain

Sphere: Related Content


SEO London said...

Thanks for this post, here is a good site and good posts, I will bookmark this post.

SEO Manchester said...

Very informative post. Thank you for sharing your experience. I am looking forward to know about recent advance in technology.