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World’s worst deal, right in our back yard

By   /  Friday, September 16th, 2011  /  Columns, Opinion  /  Comments Off on World’s worst deal, right in our back yard

Like millions of suffering homeowners who bought at the top, Bank of America now is suffering the extended consequences of the real estate bust.

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700 BofA jobs at stake in Ventura County

By   /  Thursday, September 1st, 2011  /  Banking & Finance, Banking Industry, Latest news, Tri-County Economy  /  Comments Off on 700 BofA jobs at stake in Ventura County

About 700 jobs in Thousand Oaks and Westlake Village are in peril as Bank of America prepares to sell or shutter the correspondent-lending arm of its mortgage business. “We intend to sell the correspondent mortgage lending division or, if a suitable deal is not identified, we will consider other options, including winding down the correspondent Read More →

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PennyMac mints new HQ in Moorpark

By   /  Friday, July 8th, 2011  /  Banking & Finance, Banking Industry, Real Estate, Top Stories, Tri-County Economy  /  Comments Off on PennyMac mints new HQ in Moorpark

A new venture led by a former top executive of Countrywide Financial Corp. is moving to Moorpark.

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Foreclosure freeze won

By   /  Monday, October 25th, 2010  /  Real Estate, Top Stories, Tri-County Economy  /  Comments Off on Foreclosure freeze won

As the nation’s largest home lenders continue their self-imposed foreclosure freezes, economists in the tri-county region say the residential real estate market’s search for the bottom is being delayed. The Tri-Counties had more than 1,200 homes in foreclosure at the end of the second quarter, according to information from research firm DataQuick. That’s up more Read More →

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Foreclosure fiasco’s ground zero: Ventura County offices churned out paperwork

By   /  Monday, October 25th, 2010  /  Top Stories, Tri-County Economy  /  Comments Off on Foreclosure fiasco’s ground zero: Ventura County offices churned out paperwork

Ask her how many foreclosure documents she worked through in a day at Countrywide Financial Corp., and Linda Martins-Mann says the pace was fast. “I didn’t count how many I processed, but it was a lot,” she said. “Maybe about 500 a day.” Martins-Mann was a foreclosure technician at Countrywide’s Simi Valley offices until the Read More →

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Totaling up the hefty price tag of Mozilo

By   /  Monday, October 25th, 2010  /  Columns, Opinion  /  Comments Off on Totaling up the hefty price tag of Mozilo

The lifetime ban against former Countrywide Financial Corp. CEO Angelo Mozilo serving as an officer or director of a public company may be the most positive result to come from his settlement of a U.S. Securities and Exchange Commission complaint. But Mozilo’s company and his conduct created a decade-long road to economic ruin that reached Read More →

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From the editor: Mozilo’s ban a true black mark

By   /  Monday, October 18th, 2010  /  Columns, Opinion  /  Comments Off on From the editor: Mozilo’s ban a true black mark

The lifetime ban against former Countrywide CEO Angelo Mozilo serving as an officer or director of a public company may be the most positive result to come from his settlement of a U.S. Securities and Exchange Commission complaint. As reported over the weekend, the SEC settled with Mozilo and two top lieutenants in a case Read More →

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