August 21, 2007 - So countrywide had to call an $11 BILLION credit line.
Surprised?
Not really. After attempting to refinance my house over the past few months, it seems every smaller bank and mortgage broker, when asked where are you sending my mortgage application, they all replied, "Countrywide". The backup, as they referred to it, was Wells Fargo.
I felt like calling up these brokers and aksing them today, who they are sending these apps to?
Countrywide, when I called them directly (I figured why pay a mortgage broker), and applied offered me a loan. However, when I declined the 7.25 offer as being HIGH, the rude person repsonded "WHAT WITH YOUR CREDIT SCORE, YOU'LL NEVER GET A LOAN...".
All I can say is I hope this person in their Houston call center has lost their job.
And I did get my loan. Locally.
So to all those banks and mortage brokers that jammed people through at Countrywide....
Good Luck.
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