We have been amazed that, as one financially sophisticated entity after another found widespread fraud by Countrywide in the entire gamut of its operations, the administration, the industry, and the financial media act as if this is acceptable.
Countrywide made hundreds of thousands of fraudulent loans.
• It fraudulently sold hundreds of thousands of loans through false reps and warranties.
• It fraudulently foreclosed on large numbers of loans.
• It victimized hundreds of thousands of people and hundreds of financial institutions, causing hundreds of billions of dollars of losses.
• It has defrauded more people at a greater cost than any entity in history.