All GLG News Analyses Filed Under: Mortgages, Consumer & Specialty Finance

The article provides a useful summary of the utility of an ILC charter to promote certain business models, such as home improvement, and it identifies some of the major companies that already have ILCs:  Merrill Lynch (MER), General Electric (GE), Toyota Motor Co., UnitedHealth Group (UNH). As...

Over valued versus the risk of litigation, talent flight, legislative constraints, portfolio loss and about every other imaginable variable. Overvalued servicing rights with disappointed servicing investors. Average industry systems, nothing great. Short staffed already. More leaving. Mozillio defineltly...

While on paper the acquisition versus the valuation of loan servicing looks good, the reality is a whole mess of operational and regulatory risk. The Countrywide CIO was just announced leaving for FIS (Fidelity) and the state of the art systems was one of the selling points in the acquisition. An asset...

Consumers spent more than $2.5 trillion in 2007 on credit card purchases and cash advances, however, consumers are falling behind on credit card payments at an alarming rate, sending delinquencies and defaults skyrocketing. The value of credit card accounts at least 30 days late rose 26% to $17.3 billion...

Countrywide not trusted by brokers and closes it sub-prime wholesale division. BoA is out of the wholesale business completely. Countrywide has lots of attractive assets. Hmmm!  Firesale!

The announcement this week that AMEX will be taking a significant charge due to rising bad debt may have a backlash affect on the other major card associations.  MasterCard's stock has been performing well, even with a shaky economy, but this announcement has taken a bit of the wind from their...

1) Regulatory issues 2) Share holder approval

Implications: 1.Milestone in the unfolding International Financial Crisis. 2.Dangerous Spirral: a weakening economy and rising mortgage delinquencies survive on eachother. 3.Reduced spending and increased delinquencies by the average consumer has risen. 4.Failure of Countrywide would pose a major risk...

While many eyes are on the transaction as a proposed bailout for Countrywide, Bank of America will be solving a good many problems for themselves, while purchasing the fuel for tremendous growth.  The advantages for Bank of America are many but the largest are the resolution of their...

Mums the word from Bank of America and Countrywide on whether BofA plans to swoop in and bailout Countrywide from a sudden fate of bankruptcy. Countrywide reported that foreclosures and late payments rose to the most in five years in December 2007. Countrywide's shares has fallen 28% this week and its...