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Former VP Describes Countrywide’s Tricks

HOUSTON (CN) - A regional vice president claims Countrywide Home Loans fired him for objecting to its illegal tricks thatincludedusing an appraiser that it knew inflated the value of homes,flippingloan applicants from a documented program to Countrywide's undocumented, subprime lending center in Plano, Texasa anddemanding that 10 percent of the backlog of its unapproved loan applications be approved each day, whilealso fabricating income levels for applicants. See Mark Zachary's federal complaint.

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