Loan Modification Forum - LoanSafe.org - View Single Post

pattona · 11-22-2008, 02:31 PM

I am curious as to why Countrywide would be taking over the servicing of Greenpoint loans. I just got notification that Countrywide is taking over the servicing of my late mother's Greenpoint mortgage. This is for a small rental property. I find it no small coincidence that the fixed rate term ends on Jan 1, 2009. Fortunately the rate went down 1/8 point but it easily could have gone the other way. Also the new rate is only in effect for 6 months.

Doesn't Countrywide have enough problems without taking on more Alt-A/subprime loans?

11-22-2008, 02:31 PM	#18 (permalink)
pattona Senior Member Join Date: Sep 2008 Posts: 92 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Greenpoint to Countrywide I am curious as to why Countrywide would be taking over the servicing of Greenpoint loans. I just got notification that Countrywide is taking over the servicing of my late mother's Greenpoint mortgage. This is for a small rental property. I find it no small coincidence that the fixed rate term ends on Jan 1, 2009. Fortunately the rate went down 1/8 point but it easily could have gone the other way. Also the new rate is only in effect for 6 months. Doesn't Countrywide have enough problems without taking on more Alt-A/subprime loans?