The thieves are at it again

The main players of the 2008 disaster are here to give you more of their fraud. Penny Mac is none other than the good ole boys of Country Wide. You can see clearly how the SEC and our Government watch over. The bad mortgages this bank churned out and cost tax payers billions, is now churning them out again as NPL! ( Non performing loans) and they got the help of the BIG banks to carry out new fraud on this country and hopefully other countries don't fall like fools like ours does. So a big hand goes out to the OCC, the SEC, the FDIC and our government watch dogs for sending us back into another spiral we probably won't recover from. As for you investors, I hope you lose everything you have, for playing into this mess again, their will be no saving you this time. PennyMac Financial Services’ Class A shares at the end of their first trading day on the New York Stock Exchange Thursday were up $1 at $19 per share, according to Yahoo Finance. The company, which trades under the ticker symbol PFSI, had priced its initial public offering of 11,111,111 shares of Class A common stock at $18 per share on Wednesday. Underwriters have a 30-day option to buy up to an additional 1,666,666 shares of Class A stock from the company at the IPO price less the underwriting discount. The offering is expected to close May 14. Citigroup Global Markets Inc., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. are acting as joint book-running managers for the offering. Barclays Capital Inc., JPMorgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are acting as co-managers. Now here's a story for you PennyMac! Countrywide! Executives! Where are they Now? Written by John Wright June 26th, 2011-There have been many of you out there asking me about the newly formed “PennyMac” that was started in the year 2009, but nearly one year after Bank of Betraying America purchased Countrwide. Therefore, I thought we would investigate this venture together here at piggybankblog, while we just get to the bottom of what kind of shenanigans these banks and our government are up to now. I say “shenanigans” because it almost appears that PennyMac is sneaking in behind the scenes, but while they do all the dirty work for the banks, such as Bank of Betraying America. Therefore, let us follow the trail of rat turds to find the rats! It is virtually run by the very same executives that ran…………are you ready for this?………drum roll please………COUNTRYWIDE! Ex-Leaders of Countrywide Profit From Bad Loans CALABASAS, Calif. — Fairly or not, Countrywide Financial and its top executives would be on most lists of those who share blame for the nation’s economic crisis. After all, the banking behemoth made risky loans to tens of thousands of Americans, helping set off a chain of events that has the economy staggering. CALABASAS, Calif. — Fairly or not, Countrywide Financial and its top executives would be on most lists of those who share blame for the nation’s economic crisis. After all, the banking behemoth made risky loans to tens of thousands of Americans, helping set off a chain of events that has the economy staggering. – read more http://www.nytimes.com/2009/03/04/business/04penny.html?_r=0 Countrywide Executives! Where Are They Now? . Angelo Mozillo – CEO of Countrywide. Has worked for Countrywide for 39 years. Now retired. (goodbye!). Stanford Kurland – 2007 – present, Chairman of the Board and CEO of PennyMac Corporation –1999-N/A- Former President, Chief Operating Officer, Director, Chairman of Countrywide Home Loans Inc and Chief Executive Officer of Countrywide Home Loans Inc Wanna invest in a new mortgage company founded by a key architect of bankrupt Countrywide? PennyMac, the mortgage vulture founded by Angelo Mozilo #2 Stanford Kurland, has filed for a $750 million NYSE IPO and would like to trade under the ticker “PMT”. – Read more Forbs.com had the following to say about it: “Some say Countrywide Financial executives helped destabilize the mortgage market by lowering lending standards and using shady sales policies. But should these same execs now try and fix this mess?” Forbes.com John Wright says: Ummmmmm…..let me think about that……….NO! . David Sambol – Age 50 – Head of Global Consumer Credit Group – Bank of America Corp. (Formerly – Executive Managing Director of Mortgage Banking and Capital Markets of Countrywide Financial Corp. and for its subsidiary, Countrywide Home Loans Inc. as President. May 28 (Bloomberg) — Countrywide Financial Corp. President David Sambol, who became a target for critics of the mortgage company’s loan practices and executive pay, will leave after Bank of America Corp.‘s takeover instead of running the combined home lending operations as originally planned. . Tom Gamache: Tom Gamache, East Division Retail Mortgage Sales executive, for Bank of America. Gamache previously served as East Division executive for the Consumer Markets division of Countrywide. Gamache will be based in Boston. . David A. Spector: Mr. Spector is the president and chief operating officer of PMT and chief investment officer of PCM and PLS. Mr. Spector was senior managing director, secondary marketing, for Countrywide, from May 1990 to August 2006, where he was responsible for all secondary marketing activities, including interest rate risk management, and directed loan trading, loan pricing, pipeline hedging, and MSR hedging. Mr. Spector was a member of the Countrywide Asset Liability and Credit Committees, as well as Freddie Mac and Fannie Mae Advisory Committees. . Anne D. McCallion: Ms. McCallion is the chief financial officer and treasurer of PMT, and chief financial officer of PCM and PLS. She is responsible for overseeing PennyMac’s financial management, reporting and controls; compliance; administration and human resources. Prior to joining PennyMac in April 2009, Ms. McCallion held various financial positions at Countrywide, including serving as chief financial officer after the company was acquired by Bank of America. In her 17 years at Countrywide, from July 1991 to December 2008, she also served as deputy chief financial officer, chief operations officer, and chief administrative officer. . David M. Walker: Mr. Walker is the chief credit officer of PMT, PCM and PLS, and is responsible for credit and portfolio management activities including: the due diligence on acquired mortgages, transaction management, new loan underwriting and modification standards, loan sales, overseeing representation and warranty claims, evaluating the adequacy of reserves and overseeing the default and loss severity assumptions used by PCM’s valuation model. Prior to joining PennyMac in January 2008, Mr. Walker was chief credit officer at New World Financial. Prior to joining New World Financial in April 2007, Mr. Walker was chief lending officer for Countrywide Bank, N.A., a subsidiary of Countrywide, where he was responsible for the bank’s lending, credit and portfolio management activities. Prior to joining Countrywide Bank, N.A. in March 2002, Mr. Walker spent ten years with Countrywide in a variety of credit risk management and secondary marketing positions, including chief credit officer and executive vice president of secondary marketing. Prior to joining Countrywide in 1992, Mr. Walker was a vice president at Citicorp and, prior to that, a member of McKinsey & Company’s corporate finance practice. . John Lawrence: – Managing Director of PennyMac. His new team at PennyMac includes former Countrywide executives David Spector (a 16-year veteran), Farzard Abolfathi (21 years), Anne McCallion (17 years, ending as Countrywide chief financial officer), Michael Muir, (CFO of Countrywide Bank and head of asset-backed securities trading), Aratha Johnson (Kurland’s chief of staff at Countrywide), Julianne Fries (chief of compliance at Countrywide Capital Markets), Brandon Ohnemus (lending finance at Countrywide Bank), Scott Anderson (Countrywide Home Loans), and Lee Trumble (also Countrywide Bank). – for more go here http://www.forexhound.com/article/Stocks/Stocks/Watch_Your_Wallet_the_Countrywide_Team_ex_Mozilo_is_Back/150108 PennyMac! Countrywide! Executives! Where are they Now? PennyMac! Countrywide! Executives! Where are they Now? Written by John Wright June 26th, 2011-There have been many of you out there asking me about the newly formed “PennyMac” that was started in the year 2009, but nearly one year after Bank of Betraying America purchased Countrwide. Therefore, I thought we would investigate this venture together here at piggybankblog, while we just get to the bottom of what kind of shenanigans these banks and our government are up to now. I say “shenanigans” because it almost appears that PennyMac is sneaking in behind the scenes, but while they do all the dirty work for the banks, such as Bank of Betraying America. Therefore, let us follow the trail of rat turds to find the rats! It is virtually run by the very same executives that ran…………are you ready for this?………drum roll please………COUNTRYWIDE! . . . Ex-Leaders of Countrywide Profit From Bad Loans . CALABASAS, Calif. — Fairly or not, Countrywide Financial and its top executives would be on most lists of those who share blame for the nation’s economic crisis. After all, the banking behemoth made risky loans to tens of thousands of Americans, helping set off a chain of events that has the economy staggering. CALABASAS, Calif. — Fairly or not, Countrywide Financial and its top executives would be on most lists of those who share blame for the nation’s economic crisis. After all, the banking behemoth made risky loans to tens of thousands of Americans, helping set off a chain of events that has the economy staggering. – read more . Countrywide Executives! Where Are They Now? . Angelo Mozillo – CEO of Countrywide. Has worked for Countrywide for 39 years. Now retired. (goodbye!). Stanford Kurland – 2007 – present, Chairman of the Board and CEO of PennyMac Corporation –1999-N/A- Former President, Chief Operating Officer, Director, Chairman of Countrywide Home Loans Inc and Chief Executive Officer of Countrywide Home Loans Inc Wanna invest in a new mortgage company founded by a key architect of bankrupt Countrywide? PennyMac, the mortgage vulture founded by Angelo Mozilo #2 Stanford Kurland, has filed for a $750 million NYSE IPO and would like to trade under the ticker “PMT”. – Read more Forbs.com had the following to say about it: “Some say Countrywide Financial executives helped destabilize the mortgage market by lowering lending standards and using shady sales policies. But should these same execs now try and fix this mess?” Forbes.com John Wright says: Ummmmmm…..let me think about that……….NO! . David Sambol – Age 50 – Head of Global Consumer Credit Group – Bank of America Corp. (Formerly – Executive Managing Director of Mortgage Banking and Capital Markets of Countrywide Financial Corp. and for its subsidiary, Countrywide Home Loans Inc. as President. May 28 (Bloomberg) — Countrywide Financial Corp. President David Sambol, who became a target for critics of the mortgage company’s loan practices and executive pay, will leave after Bank of America Corp.‘s takeover instead of running the combined home lending operations as originally planned. . Tom Gamache: Tom Gamache, East Division Retail Mortgage Sales executive, for Bank of America. Gamache previously served as East Division executive for the Consumer Markets division of Countrywide. Gamache will be based in Boston. . David A. Spector: Mr. Spector is the president and chief operating officer of PMT and chief investment officer of PCM and PLS. Mr. Spector was senior managing director, secondary marketing, for Countrywide, from May 1990 to August 2006, where he was responsible for all secondary marketing activities, including interest rate risk management, and directed loan trading, loan pricing, pipeline hedging, and MSR hedging. Mr. Spector was a member of the Countrywide Asset Liability and Credit Committees, as well as Freddie Mac and Fannie Mae Advisory Committees. . Anne D. McCallion: Ms. McCallion is the chief financial officer and treasurer of PMT, and chief financial officer of PCM and PLS. She is responsible for overseeing PennyMac’s financial management, reporting and controls; compliance; administration and human resources. Prior to joining PennyMac in April 2009, Ms. McCallion held various financial positions at Countrywide, including serving as chief financial officer after the company was acquired by Bank of America. In her 17 years at Countrywide, from July 1991 to December 2008, she also served as deputy chief financial officer, chief operations officer, and chief administrative officer. . David M. Walker: Mr. Walker is the chief credit officer of PMT, PCM and PLS, and is responsible for credit and portfolio management activities including: the due diligence on acquired mortgages, transaction management, new loan underwriting and modification standards, loan sales, overseeing representation and warranty claims, evaluating the adequacy of reserves and overseeing the default and loss severity assumptions used by PCM’s valuation model. Prior to joining PennyMac in January 2008, Mr. Walker was chief credit officer at New World Financial. Prior to joining New World Financial in April 2007, Mr. Walker was chief lending officer for Countrywide Bank, N.A., a subsidiary of Countrywide, where he was responsible for the bank’s lending, credit and portfolio management activities. Prior to joining Countrywide Bank, N.A. in March 2002, Mr. Walker spent ten years with Countrywide in a variety of credit risk management and secondary marketing positions, including chief credit officer and executive vice president of secondary marketing. Prior to joining Countrywide in 1992, Mr. Walker was a vice president at Citicorp and, prior to that, a member of McKinsey & Company’s corporate finance practice. . John Lawrence: – Managing Director of PennyMac. His new team at PennyMac includes former Countrywide executives David Spector (a 16-year veteran), Farzard Abolfathi (21 years), Anne McCallion (17 years, ending as Countrywide chief financial officer), Michael Muir, (CFO of Countrywide Bank and head of asset-backed securities trading), Aratha Johnson (Kurland’s chief of staff at Countrywide), Julianne Fries (chief of compliance at Countrywide Capital Markets), Brandon Ohnemus (lending finance at Countrywide Bank), Scott Anderson (Countrywide Home Loans), and Lee Trumble (also Countrywide Bank). . Now you know why PennyMac was born. They are not interested in you having a modification. THEY WANT THE INSURANCE MONEY. They buy the loans for pennies on the dollar. They want the insurance money because it will pay them what the house was worth at the top market value. They bought the loan for its insurance value! That is why I think Bank of Defrauding America bought Countrywide in the first place. Do not believe they bought it to help the economy for one minute. They bought it to help themselves! The best part of this conspiracy is that the very same people running PennyMac are the very same people who ran Countrywide Home Loans Inc. – click here Imagine that! So they created the bad loans and now they are on the other end to collect again from the very same bad loans they sold to investors. They might be planning on living off your dead carcass. It is a potential insurance conspiracy. Former executives, Angelo Mozilo and David Sambol were sued by the SEC for mortgage fraud and insider trading and later settled out of court. Yet Countrywide is allowed to reopen and profit from their former predatory loans under the guise of PennyMac? The U.S. Treasury’s Office of Thrift Supervision noted in 2010 (page 7): The FBI estimates that 80 percent of all mortgage fraud involves collaboration or collusion by industry insiders. Ø CONFLICT OF INTEREST –Countrywide now a division of (B of A) had made numerous settlements in lieu of Fraud and breach of contract. Yet homeowners who have been seeking help for over 5 years are labeled as “deadbeats”. PennyMac should not be allowed to be in possession of loans that were part of Countrywide since PennyMac is comprised of former Countrywide/B of A staff. Ø INSURANCE FRAUD – Even when customer qualify for modification, it is more profitable to foreclose, collect the insurance guaranteed by our government, then resell the property at a price the former homebuyer could easily have afforded. They are now selling our properties to “investors” who invest a few dollars resell it at a large profit…called “flipping” isn’t this what got us into trouble in the 1st place? Ø FAILURE TO HONOR AGREEMENTS – When PennyMac receives mortgage notes that they purchase for pennies on the dollar, they fail to honor former temporary modifications made by previous lender and force the homebuyer to restart the process. Most homebuyers are denied modification, so that the purported lender can foreclose and double their profits. More here ..Get involved with this blog. http://www.elainegalindo.com/1952.html http://www.elainegalindo.com/1952.html THIS NEEDS TO END .