Tuesday, October 23, 2007

Countrywide REO goes from 13k to 195k?


A developing story "scandal" started this morning when investors/realtors noticed that Countrywide on it's REO search site noted 180k more properties listed across the country. The new additions state that no broker has been assigned. I checked a few CA listings and they are indeed foreclosed properties. Check it out yourself Countrywide Foreclosure Blog.

Is this the disclosure that breaks the Countrywide balance sheet to have Bank of America come to the rescue?

1 comment:

Bob said...

Looks like they had a database glitch that resulted in lots of previously sold foreclosures to come back up on the site. Most of the ones I researched in the Denver area were foreclosed properties that had sold some time ago.

Regards

Bob