Countrywide is profitting from the same toxic loans they created by forming a new company called PennyMac, headed up by the same executives that helped create our economic downfall...when they ran Countrywide.
They buy back your loans for pennies on the dollar, then they collect the maximum they can from the homeowner, rarely modifying. They are unregulated so they buy loans from banks that are regulated so they can hide their assests in the private sector.
If this is not stopped, it will be the next great economic disaster in a few years and we will all be asking why we didn't see it coming.
I want them to investigate the fraud done by PennyMac. It is unbelievable the same executives who have numerous lawsuits filed against them are allowed to profit from their former bad behavior making millions by foreclosing on innocent families.
PennyMac is forcing my family out of their home