Long Beach, Ca. The real reason Countrywide failed in the Mortgage Markets
By Kirk Mulhearn
(Prudential California Realty/Gem Mortgage)
Long Beach, Ca. The market is like the wild. Only the fittest survive to fight and live another day. Not to take away from the efforts or history of any great company; the fact is, everyday we are vulnerable and responsible for every decision we make whether it is corporate or personal. The fact that America's biggest Mortgage Lender, Countrywide, just got bought out by Bank of America is further evidence that if a company and its directors do not make the right decisions, they and their apparatus will be gobbled up by the market.The real reason for the fall of the Mortgage giants like Ameriquest, Countrywide, Novastar, and New Century can be summed up in one word: Greed. This is the unfortunate human trait that corporations often emulate that demands more and more and is satisfie...
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