Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Mozilo


Links to Mozilo's Activities:
NACA'S TARGET

Angelo Mozilo, CEO & Founder of Countrywide,
is Selling All His Shares in His Own Company,
But He Wants YOU to Invest.

(Angelo Mozilo has netted $100 million this year alone dumping his Countrywide stock.
Meanwhile, shareholders have seen the value of their investment tumble by $14 billion since February.)
Tell us what you know about Angelo Mozilo & Countrywide
Click Here to Share Your Experience & Knowledge

Message to BONO:
DO NOT attend the MBA conference. Your sponsorship by Countrywide lends them your credibility and integrity. They are the #1 predatory lender. Debt relief also needs to occur in America.
Click here for our letter to BONO


Period: 2005 to Present     -     Total buy: $184,746        Total sale: $369,021,169

Transactions reported over the last two years
DateSharesStockTransaction
10-Oct-07 139,918CFCOption Exercise at $9.94 per share.
(Cost of $1,390,784)
10-Oct-07 139,918CFCSale at $18.74 per share.
(Proceeds of $2,622,063)
9-Oct-07 139,918CFCOption Exercise at $9.94 per share.
(Cost of $1,390,784)
9-Oct-07 139,918CFCSale at $19.87 per share.
(Proceeds of $2,780,170)
8-Oct-07 139,918CFCOption Exercise at $9.94 per share.
(Cost of $1,390,784)
8-Oct-07 139,918CFCSale at $20.14 per share.
(Proceeds of $2,817,948)
13-Aug-07 46,000CFCOption Exercise at $14.69 per share.
(Cost of $675,740)
13-Aug-07 46,000CFCSale at $28.40 per share.
(Proceeds of $1,306,400)
8-Aug-07 92,000CFCOption Exercise at $14.69 per share.
(Cost of $1,351,480)
8-Aug-07 92,000CFCSale at $28.74 per share.
(Proceeds of $2,644,080)
7-Aug-07 110,000CFCOption Exercise at $9.94 per share.
(Cost of $1,093,400)
7-Aug-07 110,000CFCSale at $28.06 per share.
(Proceeds of $3,086,600)
1-Aug-07 30,000CFCOption Exercise at $9.94 per share.
(Cost of $298,200)
1-Aug-07 30,000CFCSale at $28.16 per share.
(Proceeds of $844,800)
31-Jul-07 46,000CFCOption Exercise at $14.69 per share.
(Cost of $675,740)
31-Jul-07 46,000CFCSale at $29.89 per share.
(Proceeds of $1,374,940)
27-Jul-07 46,000CFCOption Exercise at $14.69 per share.
(Cost of $675,740)
27-Jul-07 46,000CFCSale at $29.59 per share.
(Proceeds of $1,361,140)
25-Jul-07 46,000CFCOption Exercise at $10.89 - $14.69 per share.
25-Jul-07 46,000CFCSale at $30.52 per share.
(Proceeds of $1,403,920)
23-Jul-07 70,000CFCOption Exercise at $9.94 per share.
(Cost of $695,800)
23-Jul-07 70,000CFCSale at $34.22 per share.
(Proceeds of $2,395,400)
20-Jul-07 70,000CFCOption Exercise at $9.94 per share.
(Cost of $695,800)
20-Jul-07 70,000CFCSale at $34.12 per share.
(Proceeds of $2,388,400)
18-Jul-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
18-Jul-07 46,000CFCSale at $34.32 per share.
(Proceeds of $1,578,720)
16-Jul-07 70,000CFCOption Exercise at $9.94 per share.
(Cost of $695,800)
16-Jul-07 70,000CFCSale at $35.83 per share.
(Proceeds of $2,508,100)
13-Jul-07 70,000CFCOption Exercise at $9.94 per share.
(Cost of $695,800)
13-Jul-07 70,000CFCSale at $36.64 per share.
(Proceeds of $2,564,800)
12-Jul-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
12-Jul-07 46,000CFCSale at $36.45 per share.
(Proceeds of $1,676,700)
11-Jul-07 70,000CFCOption Exercise at $9.94 per share.
(Cost of $695,800)
11-Jul-07 70,000CFCSale at $35.68 per share.
(Proceeds of $2,497,600)
19-Jun-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
19-Jun-07 46,000CFCSale at $38.90 per share.
(Proceeds of $1,789,400)
18-Jun-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
18-Jun-07 46,000CFCSale at $38.48 per share.
(Proceeds of $1,770,079)
15-Jun-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
15-Jun-07 46,000CFCSale at $37.99 per share.
(Proceeds of $1,747,540)
14-Jun-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
14-Jun-07 46,000CFCSale at $37.83 per share.
(Proceeds of $1,740,180)
13-Jun-07 70,000CFCOption Exercise at $9.94 per share.
(Cost of $695,800)
13-Jun-07 70,000CFCSale at $37.81 per share.
(Proceeds of $2,646,700)
11-Jun-07 70,000CFCOption Exercise at $9.94 per share.
(Cost of $695,800)
11-Jun-07 70,000CFCSale at $37.67 per share.
(Proceeds of $2,636,900)
8-Jun-07 70,000CFCOption Exercise at $9.94 per share.
(Cost of $695,800)
8-Jun-07 70,000CFCSale at $37.95 per share.
(Proceeds of $2,656,500)
6-Jun-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
6-Jun-07 46,000CFCSale at $39.06 per share.
(Proceeds of $1,796,760)
4-Jun-07 70,000CFCOption Exercise at $9.60 - $9.94 per share.
(Cost of about $684,000)
4-Jun-07 70,000CFCSale at $39.15 per share.
(Proceeds of $2,740,500)
1-Jun-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
1-Jun-07 70,000CFCSale at $39.01 per share.
(Proceeds of $2,730,700)
31-May-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
31-May-07 46,000CFCSale at $39.80 per share.
(Proceeds of $1,830,799)
21-May-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
21-May-07 46,000CFCSale at $40.64 per share.
(Proceeds of $1,869,440)
18-May-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
18-May-07 70,000CFCSale at $41.14 per share.
(Proceeds of $2,879,800)
16-May-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
16-May-07 46,000CFCSale at $40.25 per share.
(Proceeds of $1,851,500)
14-May-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
14-May-07 70,000CFCSale at $40.26 per share.
(Proceeds of $2,818,200)
10-May-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
10-May-07 70,000CFCSale at $40.68 per share.
(Proceeds of $2,847,600)
8-May-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
8-May-07 70,000CFCSale at $38.78 per share.
(Proceeds of $2,714,600)
7-May-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
7-May-07 46,000CFCSale at $38.48 per share.
(Proceeds of $1,770,079)
4-May-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
4-May-07 46,000CFCSale at $38.03 per share.
(Proceeds of $1,749,380)
2-May-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
2-May-07 70,000CFCSale at $37.54 per share.
(Proceeds of $2,627,800)
30-Apr-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
30-Apr-07 46,000CFCSale at $38.45 per share.
(Proceeds of $1,768,700)
27-Apr-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
27-Apr-07 70,000CFCSale at $38.35 per share.
(Proceeds of $2,684,500)
23-Apr-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
23-Apr-07 70,000CFCSale at $37.33 per share.
(Proceeds of $2,613,100)
20-Apr-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
20-Apr-07 46,000CFCSale at $37.84 per share.
(Proceeds of $1,740,640)
18-Apr-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
18-Apr-07 70,000CFCSale at $37.25 per share.
(Proceeds of $2,607,500)
16-Apr-07 46,000CFCOption Exercise at $10.89 per share.
(Cost of $500,940)
16-Apr-07 46,000CFCSale at $34.93 per share.
(Proceeds of $1,606,780)
13-Apr-07 46,000CFCOption Exercise at $9.60 - $10.89 per share.
(Cost of about $471,000)
13-Apr-07 46,000CFCSale at $33.60 per share.
(Proceeds of $1,545,600)
11-Apr-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
11-Apr-07 70,000CFCSale at $33.46 per share.
(Proceeds of $2,342,200)
4-Apr-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
4-Apr-07 70,000CFCSale at $33.33 per share.
(Proceeds of $2,333,100)
2-Apr-07 152,766CFCAcquisition (Non Open Market) at $0 per share.
2-Apr-07 46,000CFCOption Exercise at $9.60 per share.
(Cost of $441,600)
2-Apr-07 46,000CFCSale at $32.69 per share.
(Proceeds of $1,503,740)
30-Mar-07 46,000CFCOption Exercise at $9.60 per share.
(Cost of $441,600)
30-Mar-07 46,000CFCSale at $33.83 per share.
(Proceeds of $1,556,180)
23-Mar-07 46,000CFCOption Exercise at $9.60 per share.
(Cost of $441,600)
23-Mar-07 46,000CFCSale at $36.40 per share.
(Proceeds of $1,674,400)
20-Mar-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
20-Mar-07 70,000CFCSale at $35.34 per share.
(Proceeds of $2,473,800)
15-Mar-07 46,000CFCOption Exercise at $9.60 per share.
(Cost of $441,600)
15-Mar-07 46,000CFCSale at $35.63 per share.
(Proceeds of $1,638,980)
12-Mar-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
12-Mar-07 70,000CFCSale at $35 per share.
(Proceeds of $2,450,000)
8-Mar-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
8-Mar-07 70,000CFCSale at $37.47 per share.
(Proceeds of $2,622,900)
6-Mar-07 46,000CFCOption Exercise at $9.60 per share.
(Cost of $441,600)
6-Mar-07 46,000CFCSale at $36.32 per share.
(Proceeds of $1,670,720)
5-Mar-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
5-Mar-07 70,000CFCSale at $35.19 per share.
(Proceeds of $2,463,300)
2-Mar-07 46,000CFCOption Exercise at $9.60 per share.
(Cost of $441,600)
2-Mar-07 46,000CFCSale at $37.18 per share.
(Proceeds of $1,710,280)
1-Mar-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
1-Mar-07 70,000CFCSale at $37.10 per share.
(Proceeds of $2,597,000)
28-Feb-07 46,000CFCOption Exercise at $9.60 per share.
(Cost of $441,600)
28-Feb-07 46,000CFCSale at $37.91 per share.
(Proceeds of $1,743,859)
22-Feb-07 70,000CFCSale at $40.45 per share.
(Proceeds of $2,831,500)
21-Feb-07 46,000CFCOption Exercise at $9.60 per share.
(Cost of $441,600)
21-Feb-07 46,000CFCSale at $40.77 per share.
(Proceeds of $1,875,420)
21-Feb-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
15-Feb-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
15-Feb-07 70,000CFCSale at $41.88 per share.
(Proceeds of $2,931,600)
13-Feb-07 46,000CFCOption Exercise at $9.60 per share.
(Cost of $441,600)
13-Feb-07 46,000CFCSale at $41.26 per share.
(Proceeds of $1,897,960)
13-Feb-07 241,081CFCAcquisition (Non Open Market) at $0 per share.
12-Feb-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
12-Feb-07 70,000CFCSale at $41.19 per share.
(Proceeds of $2,883,300)
9-Feb-07 46,000CFCOption Exercise at $9.60 per share.
(Cost of $441,600)
9-Feb-07 46,000CFCSale at $43.69 per share.
(Proceeds of $2,009,740)
8-Feb-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
8-Feb-07 70,000CFCSale at $43.47 per share.
(Proceeds of $3,042,900)
5-Feb-07 46,000CFCOption Exercise at $9.60 per share.
(Cost of $441,600)
5-Feb-07 46,000CFCSale at $44.61 per share.
(Proceeds of $2,052,060)
2-Feb-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
2-Feb-07 70,000CFCSale at $44.52 per share.
(Proceeds of $3,116,400)
26-Jan-07 23,000CFCOption Exercise at $9.60 per share.
(Cost of $220,800)
26-Jan-07 23,000CFCSale at $40.40 per share.
(Proceeds of $929,200)
24-Jan-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
24-Jan-07 70,000CFCSale at $41.65 per share.
(Proceeds of $2,915,500)
22-Jan-07 23,000CFCOption Exercise at $9.60 per share.
(Cost of $220,800)
22-Jan-07 23,000CFCSale at $41.27 per share.
(Proceeds of $949,210)
19-Jan-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
19-Jan-07 70,000CFCSale at $41.24 per share.
(Proceeds of $2,886,800)
18-Jan-07 23,000CFCOption Exercise at $9.60 per share.
(Cost of $220,800)
18-Jan-07 23,000CFCSale at $40.35 per share.
(Proceeds of $928,050)
11-Jan-07 23,000CFCOption Exercise at $9.60 per share.
(Cost of $220,800)
11-Jan-07 23,000CFCSale at $42.18 per share.
(Proceeds of $970,140)
10-Jan-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
10-Jan-07 70,000CFCSale at $42.12 per share.
(Proceeds of $2,948,400)
8-Jan-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
8-Jan-07 70,000CFCSale at $42.05 per share.
(Proceeds of $2,943,500)
5-Jan-07 23,000CFCOption Exercise at $9.60 per share.
(Cost of $220,800)
5-Jan-07 23,000CFCSale at $42.37 per share.
(Proceeds of $974,509)
4-Jan-07 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
4-Jan-07 70,000CFCSale at $42.22 per share.
(Proceeds of $2,955,400)
18-Dec-06 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
18-Dec-06 70,000CFCSale at $41.66 per share.
(Proceeds of $2,916,199)
15-Dec-06 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
15-Dec-06 70,000CFCSale at $41.46 per share.
(Proceeds of $2,902,200)
11-Dec-06 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
11-Dec-06 70,000CFCSale at $40.06 per share.
(Proceeds of $2,804,200)
8-Dec-06 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
8-Dec-06 70,000CFCSale at $39.93 per share.
(Proceeds of $2,795,100)
4-Dec-06 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
4-Dec-06 *25,000CFCSale at $39.99 per share.
(Proceeds of $999,750)
4-Dec-06 70,000CFCSale at $39.98 per share.
(Proceeds of $2,798,600)
29-Nov-06 *25,000CFCSale at $39.88 per share.
(Proceeds of $997,000)
21-Nov-06 47,999CFCSale at $39.79 per share.
(Proceeds of $1,909,880)
20-Nov-06 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
20-Nov-06 70,000CFCSale at $40.20 per share.
(Proceeds of $2,814,000)
16-Nov-06 48,000CFCSale at $40.65 per share.
(Proceeds of $1,951,200)
13-Nov-06 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
13-Nov-06 70,000CFCSale at $40.13 per share.
(Proceeds of $2,809,100)
10-Nov-06 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
10-Nov-06 70,000CFCSale at $38.93 per share.
(Proceeds of $2,725,100)
6-Nov-06 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
6-Nov-06 93,000CFCSale at $38.46 - $38.84 per share.
(Proceeds of about $3,594,000)
1-Nov-06 70,000CFCOption Exercise at $9.60 per share.
(Cost of $672,000)
1-Nov-06 93,000CFCSale at $38.31 - $38.34 per share.
(Proceeds of about $3,564,000)
8-Jun-06 6,805CFCOption Exercise at $14.69 per share.
(Cost of $99,965)
7-Jun-06 *5,000HDPurchase at $36.94 - $36.95 per share.
(Cost of about $185,000)
25-May-06 14,792CFCOption Exercise at $5.80 per share.
(Cost of $85,793)
25-May-06 14,792CFCSale at $37.75 per share.
(Proceeds of $558,398)
24-May-06 14,793CFCSale at $37.86 per share.
(Proceeds of $560,062)
24-May-06 14,793CFCOption Exercise at $5.80 per share.
(Cost of $85,799)
23-May-06 14,793CFCSale at $38.26 per share.
(Proceeds of $565,980)
23-May-06 14,793CFCOption Exercise at $5.80 per share.
(Cost of $85,799)
22-May-06 14,793CFCSale at $39 per share.
(Proceeds of $576,927)
22-May-06 14,793CFCOption Exercise at $5.80 per share.
(Cost of $85,799)
19-May-06 14,793CFCSale at $39.75 per share.
(Proceeds of $588,021)
19-May-06 14,793CFCOption Exercise at $5.80 per share.
(Cost of $85,799)
18-May-06 52,500CFCSale at $40.47 per share.
(Proceeds of $2,124,675)
18-May-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
15-May-06 52,500CFCSale at $41.62 per share.
(Proceeds of $2,185,050)
15-May-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
12-May-06 52,500CFCSale at $41.45 per share.
(Proceeds of $2,176,125)
12-May-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
8-May-06 52,500CFCSale at $42.82 per share.
(Proceeds of $2,248,050)
8-May-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
5-May-06 52,500CFCSale at $40.60 per share.
(Proceeds of $2,131,500)
5-May-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
1-May-06 52,500CFCSale at $40.54 per share.
(Proceeds of $2,128,350)
1-May-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
28-Apr-06 52,500CFCSale at $39.38 per share.
(Proceeds of $2,067,450)
28-Apr-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
24-Apr-06 52,500CFCSale at $37.42 per share.
(Proceeds of $1,964,550)
24-Apr-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
18-Apr-06 52,500CFCSale at $36.99 per share.
(Proceeds of $1,941,975)
18-Apr-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
10-Apr-06 52,500CFCSale at $37.27 per share.
(Proceeds of $1,956,675)
10-Apr-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
7-Apr-06 52,500CFCSale at $37.43 per share.
(Proceeds of $1,965,075)
7-Apr-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
3-Apr-06 52,500CFCSale at $36.40 per share.
(Proceeds of $1,911,000)
3-Apr-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
28-Mar-06 52,500CFCSale at $36 per share.
(Proceeds of $1,890,000)
28-Mar-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
24-Mar-06 52,500CFCSale at $36.49 per share.
(Proceeds of $1,915,725)
24-Mar-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
20-Mar-06 52,500CFCSale at $36.71 per share.
(Proceeds of $1,927,275)
20-Mar-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
13-Mar-06 52,500CFCSale at $34.84 per share.
(Proceeds of $1,829,100)
13-Mar-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
8-Mar-06 52,500CFCSale at $34.82 per share.
(Proceeds of $1,828,050)
8-Mar-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
1-Mar-06 52,500CFCSale at $34.55 per share.
(Proceeds of $1,813,874)
1-Mar-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
28-Feb-06 52,500CFCSale at $34.75 per share.
(Proceeds of $1,824,375)
28-Feb-06 36,600CFCDisposition (Non Open Market) at $35.19 per share.
(Value of $1,287,954)
28-Feb-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
22-Feb-06 52,500CFCSale at $34.13 per share.
(Proceeds of $1,791,825)
22-Feb-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
16-Feb-06 52,500CFCSale at $33.81 per share.
(Proceeds of $1,775,025)
16-Feb-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
13-Feb-06 52,500CFCSale at $32.98 per share.
(Proceeds of $1,731,449)
13-Feb-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
8-Feb-06 52,500CFCSale at $32.31 per share.
(Proceeds of $1,696,275)
8-Feb-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
3-Feb-06 52,500CFCSale at $32.10 per share.
(Proceeds of $1,685,250)
3-Feb-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
31-Jan-06 52,500CFCSale at $33.45 per share.
(Proceeds of $1,756,125)
31-Jan-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
31-Jan-06 800HDStatement of Ownership
27-Jan-06 52,500CFCSale at $34.50 per share.
(Proceeds of $1,811,250)
27-Jan-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
23-Jan-06 52,500CFCSale at $34.36 per share.
(Proceeds of $1,803,900)
23-Jan-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
18-Jan-06 52,500CFCSale at $36.33 per share.
(Proceeds of $1,907,325)
18-Jan-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
10-Jan-06 52,500CFCSale at $35.27 per share.
(Proceeds of $1,851,675)
10-Jan-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
6-Jan-06 52,500CFCSale at $35.58 per share.
(Proceeds of $1,867,950)
6-Jan-06 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
29-Dec-05 52,500CFCSale at $34.21 per share.
(Proceeds of $1,796,025)
29-Dec-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
19-Dec-05 52,500CFCSale at $35.39 per share.
(Proceeds of $1,857,975)
19-Dec-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
16-Dec-05 52,500CFCSale at $35.41 per share.
(Proceeds of $1,859,024)
16-Dec-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
13-Dec-05 52,500CFCSale at $33.87 per share.
(Proceeds of $1,778,174)
13-Dec-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
8-Dec-05 52,500CFCSale at $34.63 per share.
(Proceeds of $1,818,075)
8-Dec-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
1-Dec-05 52,500CFCSale at $34.67 per share.
(Proceeds of $1,820,175)
1-Dec-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
29-Nov-05 52,500CFCSale at $35.74 per share.
(Proceeds of $1,876,350)
29-Nov-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
22-Nov-05 52,500CFCSale at $35.68 per share.
(Proceeds of $1,873,200)
22-Nov-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
18-Nov-05 52,500CFCSale at $35.06 per share.
(Proceeds of $1,840,650)
18-Nov-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
14-Nov-05 52,500CFCSale at $33.94 per share.
(Proceeds of $1,781,849)
14-Nov-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
8-Nov-05 52,500CFCSale at $31.99 per share.
(Proceeds of $1,679,475)
8-Nov-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
1-Nov-05 52,500CFCSale at $31.04 per share.
(Proceeds of $1,629,600)
1-Nov-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
28-Oct-05 52,500CFCSale at $31.31 per share.
(Proceeds of $1,643,775)
28-Oct-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
24-Oct-05 52,500CFCSale at $32.30 per share.
(Proceeds of $1,695,749)
24-Oct-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
18-Oct-05 52,500CFCSale at $31.53 per share.
(Proceeds of $1,655,325)
18-Oct-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)
13-Oct-05 52,500CFCSale at $29.60 per share.
(Proceeds of $1,554,000)
13-Oct-05 52,500CFCOption Exercise at $5.80 per share.
(Cost of $304,500)



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Minnesota's new mortgage lending law spurs Countrywide Financial's transformation into a bank
Minnesota's mortgage law spurs Countrywide's transformation
BY JENNIFER BJORHUS
PIONEER PRESS

http://www.twincities.com/portlet/article/html/imageDisplay.jsp?contentItemRelationshipId=1689048
Doug Winter, senior vice president of Countrywide Home Loans in Minnesota, was photographed at the company's Bloomington offices on Wednesday October 10, 2007. (Richard Marshall)

Countrywide's newest recruits are midway through a week of training at the embattled mortgage lender's Bloomington offices. The conference room smells like lunch. Doug Winter, who heads Countrywide's Minnesota operations, tells a dozen freshly hired loan originators, who look to be in their 30s and 40s, that Countrywide has taken a pounding but "they never are in a defensive posture."

Whether the country's No. 1 mortgage lender is on the offense or just running for its life, Countrywide Financial Corp. has been on a tear in Minnesota.

The Calabasas, Calif.-based company - a poster child for the subprime mortgage implosion, and expected to post a steep third quarter loss on Oct. 26 - has hired 40 loan officers in Minnesota in the past three months. It's opened five retail offices here in the past year and will open two more in the next few months, and is snapping up local mortgage companies - one down, two in the pipeline and more expected in the next year. All this even as it jettisons 10,000 to 12,000 employees elsewhere, dumping up to 20 percent of its workforce.

Witness Countrywide's morph from Wild West subprime mortgage lender to Countrywide, The Bank.

With the secondary investors' market for subprime mortgages nearly dead, Countrywide is migrating its mortgage lending across the U.S. to its retail bank subsidiary, Countrywide Bank FSB, to fund mortgages the old-fashioned way - with bank deposits. A $2 billion equity injection from Bank of America, plus

$20 billion in financing and credit lines from various banks, are helping the ailing lender along the way.

Countrywide's highly paid chief executive and founder, Angelo Mozilo, detailed the new bank business model at an investors conference in September although he said Countrywide began integrating its home loan and banking business last year. Minnesota is the first state to get all its mortgage lending operations funneled through the bank.

Minnesota's new consumer protection law cracking down on risky home loans "expedited" things, Winter said. The tough new law largely bans "no doc" loans or stated income loans, caps the fees that can be charged and restricts negative-amortization loans that allow owners to pay super-low monthly payments.

It also clamps down on adjustable rate mortgages with low teaser rates, requiring originators to qualify borrowers at the higher fully indexed interest rate, not the teaser rate. One of the most vexing parts of the law for the mortgage industry is the requirement that originators verify a borrower's reasonable ability to repay a loan.

Minnesota's new law targeted non-bank mortgage lenders. State and federally chartered banks were exempt. So Countrywide, the non-bank mortgage lender, sped up its transition and became a bank in Minnesota in July, although it doesn't have locations in the state that accept customer deposits - yet. The company hopes to have all of Countrywide's mortgage operations run through Countrywide Bank by January.

Technically, Countrywide Bank is now a thrift, or savings and loan, regulated by the federal Office of Thrift Supervision.

Countrywide isn't alone. Other, smaller non-bank mortgage lenders have gone the same route, hitching up with banks. Minnetonka-based Residential Mortgage Group, for instance, recently became a division of InterBank FSB in Maple Grove.

Minnesota's restrictive new law was a factor in the move, but hardly the sole one, said residential mortgage president Steve Sherwood. "Having a bank affiliation is a positive in this market," he said.

Winter explains it this way: "We have the exemption from the state law which allows us to do many products that the state law has precluded."

That's great news for Pat Conroy. He's one of Countrywide's new loan officers. During a break in training, Conroy said the wide array of loan products Countrywide can offer as a bank was a major reason he joined up. He'll start his new job soon at the lender's Woodbury office.

Conroy, 40, said he's originated mortgages for 17 years. He had no hesitation joining Countrywide, he said, dismissing the barrage of bad news about the lender as headline distortion: "They have what most companies out there cannot offer a loan originator."

NEW STRATEGY 'SMELLS'

Not everyone is sold on Countrywide's bank strategy.

Countrywide shares are still down more than 50 percent from the 52-week high of $45. Goldman Sachs analyst James Fotheringham rates the stock sell/cautious, citing rising delinquencies and foreclosures and lower loan production, among other things.

Mortgage loan volumes for the month of September were down 44 percent from last year, while delinquencies hit 5.87 percent, up from 5.1 percent in August, according to the monthly operating report the company released Thursday.

The company also said it was taking the necessary steps to help borrowers avoid foreclosure, although its reputation among consumer advocate attorneys is that Countrywide makes it very difficult for homeowners to save their homes. "They are relatively impossible to deal with," said Ira Rheingold, general counsel for the National Association of Consumer Advocates.

Rheingold, and other consumer advocates who have been highly critical of Countrywide's lending practices for years, are skeptical of its bank migration. It's a convenient way around new consumer protection laws states are putting on the books to restrict risky home loans such as the rising adjustable rate mortgage.

"The exploding ARM was a staple in their arsenal of bad lending practices," said Rheingold.

As a bank, Countrywide can continue with business as usual, said Prentiss Cox, a professor at the University of Minnesota Law School. Cox, who helped write Minnesota's new law, said the types of loans Minnesota outlawed are highly risky, even for borrowers with good credit. Cox said Countrywide's strategy "smells."

She says, "It makes no sense to be giving out mortgage loans to people who are unwilling to verify their income or assets," he said. "That's the very short-term, imprudent thinking that got us into the problems we're in now, whether it's subprime or not."

'CLOSE TO PULLING IT OFF'

Countrywide's Winter insists that the lender is on the right track. It has tightened its loan underwriting and uses more of its own loan originators to make loans, instead of buying loans from imprudent correspondent originators outside, the company says. It now deals only in conforming subprime and prime loans that Fannie Mae or Freddie Mac, the government-sponsored mortgage giants, will buy. It says it has shut down the so-called nonconforming subprime business that relied on bond investors in the secondary market.

People seem to be willing to put money in Countrywide Bank. Deposits grew $2.1 billion in September to $44 billion - a 26 percent increase from $35 billion a year ago, according to Piper Jaffray & Co. managing director Robert Napoli. Napoli rates shares "market perform."

Napoli noted that the mortgage market implosion left Countrywide no choice but to switch to its bank. And it is hardly as diversified as its competitor, Wells Fargo. Nonetheless, Napoli said he expects Countrywide, The Bank to succeed.

"They're pretty close to pulling it off already," said Napoli, whose firm does no business with Countrywide.

As for Countrywide's array of more exotic loans, they aren't the problem, Winter insists. The mess of late payments was created by lousy loan origination and mismatches with the wrong borrower, he said.

Good training of its own loan originators, along with internal audits, ensures that the company's loans going forward will be suitable, Winter said, adding, "We do not want a home back."

Jennifer Bjorhus can be reached at jbjorhus@pioneerpress.com or 651-228-2146.



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Smurf wrote:
Minnesota's restrictive new law was a factor in the move, but hardly the sole one, said residential mortgage president Steve Sherwood. "Having a bank affiliation is a positive in this market," he said.
 Winter explains it this way: "We have the exemption from the state law which allows us to do many products that the state law has precluded."  

Good training of its own loan originators, along with internal audits, ensures that the company's loans going forward will be suitable, Winter said, adding, "We do not want a home back."


So, basically, Countrywide is saying that they are absolutely OK with breaking state law - because they've found a way to do it "legally". And now they're teaching their loan officers how to do it.

And if they don't want to take people's homes how about demonstrating that by at least giving all of the Katrina victims that Countrywide recently screwed their homes back???
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