Economist Stan Liebowitz produces the Federal national mortgage association Basis singled-out Countrywide Financial since an excellent “paragon” regarding an excellent nondiscriminatory financial just who deals with area activists, after the “the most flexible underwriting criteria allowed

Countrywide Investment Management Firm handles the acquisition and you can mood regarding funds from third parties and you may financing originated by the Countrywide Home loans toward behalf out-of Nationwide Home loans. They truly are unpaid or otherwise illiquid residential mortgage loans, that have mostly got its start below Government Homes Management (FHA) and you will Veterans Administration (VA) software. The company attempts to rehabilitate the new funds, utilizing the upkeep operations from Countrywide Lenders, to help you securitize those financing you to definitely feel eligible for securitization. The remaining loans try serviced due to foreclosure and you may liquidation, also gathering bodies insurance policies and you will be sure continues relating to defaulted FHA and Va program funds. (more…)