Former VP Describes Countrywide’s Tricks

     HOUSTON (CN) – A regional vice president claims Countrywide Home Loans fired him for objecting to its illegal tricks that included using an appraiser that it knew inflated the value of homes, flipping loan applicants from a documented program to Countrywide’s undocumented, subprime lending center in Plano, Texasa and demanding that 10 percent of the backlog of its unapproved loan applications be approved each day, while also fabricating income levels for applicants. See Mark Zachary‘s federal complaint.

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