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Tuesday, Mar 28, 2023

B of A rebranding ‘toxic’ Countrywide lending operation

A few years ago, Countrywide Financial Corp. was not only the nation’s biggest home lender but also highly regarded — an “apple pie” company, as a former marketer for the Calabasas lender recalls. Linked more recently with high-risk loans, co-founder Angelo R. Mozilo’s huge paydays and FBI investigations, the Countrywide name became “too toxic to resuscitate,” as another expert puts it — and a liability for Bank of America Corp., which snatched it up last year as it neared collapse. For the full story click here

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