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PennyMac counts on family, Countrywide ties

By   /  Friday, July 18th, 2014  /  Banking & Finance, Top Stories, Tri-County Public Companies  /  Comments Off on PennyMac counts on family, Countrywide ties

  PennyMac, the Moorpark-based firm founded by former top brass at Countrywide Financial Corp., has inked a $550 million loan repurchasing deal with Bank of America. The deal forms a half-billion-dollar pact among three companies that have been intimately connected since shortly after Countrywide, the firm at the heart of the subprime loan meltdown, was Read More →

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Cashing out: Bank of America consolidates Simi operations

By   /  Friday, March 21st, 2014  /  Banking & Finance, Banking Industry, Real Estate, Top Stories  /  Comments Off on Cashing out: Bank of America consolidates Simi operations

Bank of America has shed a 1 million-square-foot portfolio of former Countrywide Financial Corp. office buildings for $200 million and plans to consolidate its Simi Valley campus.

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Fraud verdict for former Countrywide unit

By   /  Wednesday, October 23rd, 2013  /  Latest news, Tri-County Public Companies  /  1 Comment

[wikichart align=”right” ticker=”NYSE:BAC” showannotations=”true” livequote=”true” startdate=”23-04-2013″ enddate=”23-10-2013″ width=”300″ height=”245″] A fraud verdict against Bank of America and its former Countrywide unit – once a major employer in East Ventura County – has handed the U.S. government a rare victory in a lawsuit that stems from the subprime mortgage meltdown and subsequent financial crisis. A Manhattan Read More →

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Court filings offer a rare glimpse into Countrywide’s operations

By   /  Friday, October 4th, 2013  /  Columns, Opinion  /  Comments Off on Court filings offer a rare glimpse into Countrywide’s operations

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Op/ed: Bank of America should own up to its part in the mortgage mess

By   /  Friday, August 23rd, 2013  /  Op/Eds, Opinion  /  1 Comment

By Steven Mintz on August 23, 2013 The crackdown on financial institutions whose disgraceful actions in the subprime mortgage mess triggered the 2008 financial crisis have finally hit Bank of America. On Aug. 6, the Department of Justice and the U.S. Securities and Exchange Commission sued BofA for alleged securities fraud. The DOJ and SEC Read More →

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PennyMac prices IPO at $17 to $19

By   /  Tuesday, April 30th, 2013  /  Banking & Finance, Banking Industry, Latest news, Personal Finance  /  Comments Off on PennyMac prices IPO at $17 to $19

Moorpark-based PennyMac Financial Services has priced its initial public offering of stock at $17 to $19 per share, indicating plans to raise as much as $211.1 million in its launch on the New York Stock Exchange. PennyMac, headed by former Countrywide Financial Corp. President Stanford Kurland, employs more than 600 people in Moorpark and more Read More →

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PennyMac jobs top 600 as firm files for IPO

By   /  Friday, February 15th, 2013  /  Banking & Finance, Banking Industry, Top Stories, Tri-County Public Companies  /  Comments Off on PennyMac jobs top 600 as firm files for IPO

Moorpark-based PennyMac Financial Services has filed papers for a $287.5 million initial public offering on the New York Stock Exchange. The venture was founded in 2008 by Stanford Kurland, the former No. 2 executive at Countrywide Financial Corp., the defunct subprime mortgage lender at the heart of the financial crisis. Moorpark Community Development Director David Read More →

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