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Took this from the Countrywide Employee Forum..

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Took this from the Countrywide Employee Forum..

Unread postby Roccland » Sun 12 Aug 2007, 19:27:06

Tapo, Tapo, Tapo Says:

"August 12th, 2007 at 2:16 pm
Why are all the front parking spaces filled at Madera Rd. on a Sunday Morning? Ground Control to Major Myers…. Expect a hard Landing!

Phones are busy… Phones are busy… Phones are busy…
Ring the register — no sale.

I hear the Great Scrounge of 2007 is taking place."

LOOKS LIKE SOMETHING IS GOING DOWN IN THE SIMI VALLEY OFFICE TODAY.
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Re: Took this from the Countrywide Employee Forum..

Unread postby ColossalContrarian » Sun 12 Aug 2007, 20:19:03

Pictures please

I should start taking pictures of the American Mortgage company across the street from my office.... I've noticed less cars in the parking lot. Still a couple Escalades though.
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Re: Took this from the Countrywide Employee Forum..

Unread postby Eli » Mon 13 Aug 2007, 00:05:11

Yup, they are set to make a major announcement about their loans and the funding they have available.

Again it does not sound good. They did this last Sunday as well. The pattern with these mortgage companies has been to say everything is fine, it is fine, it is a little uncertain, we are broke.

Country wide was already in serious trouble but they are the biggest mortgage company in the US if they assplode it will be a massive hit. It will be bigger than ERON and there are plenty of good sized players that were doing the same thing, that will also be doomed.

Really everything is going back to standard government loans and normal bank loans and if you are going to try to do a jumbo you better have at least 10% and a great credit score and are still willing to pay a higher interest rate or you are going to get bupkiss.
Last edited by Eli on Mon 13 Aug 2007, 00:19:29, edited 1 time in total.
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Re: Took this from the Countrywide Employee Forum..

Unread postby Roccland » Mon 13 Aug 2007, 00:07:06

got this from market ticker forum

$this->bbcode_second_pass_quote('', 'T')he CFC headquarters in Calabasas used to be Lockheed's corporate HQ.

There is a conference room underground inside of a vault that sits in a tub of soundproof jelly and is electromagnetically sealed. No pipes go into the room that might be soundtapped down the street, and white noise is piped in. The vault can be closed and locked, and supposedly can survive a nuclear strike. It was used to impress the generals during top secret briefings.

The lack of echoes made it hard to hear somebody speaking across the table, and yet it felt claustrophobic.

Anyway that's probably where Mozilo is now.
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Re: Took this from the Countrywide Employee Forum..

Unread postby PrairieMule » Mon 13 Aug 2007, 00:14:49

$this->bbcode_second_pass_quote('Roccland', 'T')apo, Tapo, Tapo Says:

"August 12th, 2007 at 2:16 pm
Why are all the front parking spaces filled at Madera Rd. on a Sunday Morning? Ground Control to Major Myers…. Expect a hard Landing!

Phones are busy… Phones are busy… Phones are busy…
Ring the register — no sale.

I hear the Great Scrounge of 2007 is taking place."

LOOKS LIKE SOMETHING IS GOING DOWN IN THE SIMI VALLEY OFFICE TODAY.


As a ex-employee of Countrywide I'd ask what type cars have filled the parking lot. If it's upper end Mercedes, yeah somethings going down, if H2's and 3 series BMW's its account execs putting 70 plus hours a week doing raindances to make the phones ring.

Won't see any Dodges or Hondas(like mine), our jobs got shipped to India.

Glad I got off that train last May.
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Re: Took this from the Countrywide Employee Forum..

Unread postby jboogy » Mon 13 Aug 2007, 01:03:11

I hope they do go down,I HATE that commercial with the guy talking while that song plays,I swear they run it 5 times an hour on every channel.
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Re: Took this from the Countrywide Employee Forum..

Unread postby TommyJefferson » Mon 13 Aug 2007, 07:12:50

$this->bbcode_second_pass_quote('PrairieMule', 'G')lad I got off that train last May.


Forward thinking wise move. Kudos.
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Re: Took this from the Countrywide Employee Forum..

Unread postby MD » Mon 13 Aug 2007, 07:26:31

At the moment I am finding great comfort in my debt-free status.

To those with fat ARMs and no equity: best of luck.
Stop filling dumpsters, as much as you possibly can, and everything will get better.

Just think it through.
It's not hard to do.
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Re: Took this from the Countrywide Employee Forum..

Unread postby Chuckmak » Mon 13 Aug 2007, 14:54:29

CFC has offices in the building I work in...I'm afraid to ask around...
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Re: Took this from the Countrywide Employee Forum..

Unread postby Grimnir » Mon 13 Aug 2007, 19:03:22

Tapo Tapo Tapo? Madera road? Simi Valley? Care to clarify what any of this is about?
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Re: Took this from the Countrywide Employee Forum..

Unread postby Roccland » Mon 13 Aug 2007, 19:13:07

$this->bbcode_second_pass_quote('Grimnir', 'T')apo Tapo Tapo? Madera road? Simi Valley? Care to clarify what any of this is about?


My guess is the CFC office is on Madera Road in Simi Valley and the poster was Tapo.
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Re: Took this from the Countrywide Employee Forum..

Unread postby Grimnir » Tue 14 Aug 2007, 18:25:52

So the story is just that CFC employees sometimes have to work weekends?
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Re: Took this from the Countrywide Employee Forum..

Unread postby IrrationalExuberanceMonky » Tue 14 Aug 2007, 19:08:24

CFC are in relatively good shape they have other operations outside of mortgage lending and a lot of their balance sheet is in qualitatively sound loans and not about to default anytime soon. If/when these guys blow up that's your mortgage lender bottom right there BUY BUY BUY the last man standing if that happens. :)
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Re: Took this from the Countrywide Employee Forum..

Unread postby Roccland » Wed 15 Aug 2007, 14:40:32

$this->bbcode_second_pass_quote('Grimnir', 'S')o the story is just that CFC employees sometimes have to work weekends?


By all means buy CFC...report back to us how that goes for you...

$this->bbcode_second_pass_quote('', 'C')ountrywide Downgraded by Merrill Lynch, Bankruptcy 'Possible'

One day after Countrywide Financial Corp. (CFC), the largest U.S. mortgage lender, said foreclosures and mortgage delinquencies in July had risen to a five-year high, the lender was downgraded to “sell” by Merrill Lynch & Co., which raised the possibility of bankruptcy if the company loses access to short-term financing.

Last week, Countrywide’s Chief Financial Officer Eric Sieracki issued a statement to ease market concerns about its liquidity. He stated that, “Countrywide has longstanding and time-tested funding liquidity contingency planning. Our liquidity planning proved highly effective earlier during 2007 when market concerns first arose about subprime lending, and it remains so today.”
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Re: Took this from the Countrywide Employee Forum..

Unread postby Grimnir » Wed 15 Aug 2007, 19:40:51

I understand CFC is in trouble; the first post just had a bunch of references that didn't mean anything to me.
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Re: Took this from the Countrywide Employee Forum..

Unread postby Roccland » Wed 15 Aug 2007, 19:44:21

$this->bbcode_second_pass_quote('Grimnir', 'I') understand CFC is in trouble; the first post just had a bunch of references that didn't mean anything to me.


Ok - it was vague, but so too was what CFC is trying to hide...a parking lot full on a Sunday is an odd sign.

I think we will find out soon enough what the truth is...and if CFC is anything like other lenders...they will be carried out feet first.
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Re: Took this from the Countrywide Employee Forum..

Unread postby lady-t » Fri 17 Aug 2007, 22:14:34

i would be very interested to learn what that guy meant too. and what is going on from an insider perspective.
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Re: Took this from the Countrywide Employee Forum..

Unread postby IrrationalExuberanceMonky » Mon 20 Aug 2007, 18:50:52

This is an incredibly attractive company, the big boys will be sniffing, seems like a sweet pre-emptive Risk Arb to me!
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Re: Took this from the Countrywide Employee Forum..

Unread postby Roccland » Mon 20 Aug 2007, 19:35:15

$this->bbcode_second_pass_quote('lady-t', 'i') would be very interested to learn what that guy meant too. and what is going on from an insider perspective.


Well CFC did start layoffs today.

Hmmmmmmmmmmmmmm...wonder if there is any connection between layoffs and BK...

Naw......can't be.
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Re: Took this from the Countrywide Employee Forum..

Unread postby Chuckmak » Tue 21 Aug 2007, 13:39:55

all i know is that the CFC people in my building are sweating bullets right now (and blaming the fed, ironically). this could get interesting.
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