Comments on: More examples of Countrywide’s multiplier effect… http://www.footnoted.org/earnings-quality/more-examples-of-countrywides-multiplier-effect/ Michelle Leder's guide to what's hiding in SEC filings Tue, 06 Jan 2009 11:40:43 +0000 http://wordpress.org/?v=2.7 hourly 1 By: asagefield http://www.footnoted.org/earnings-quality/more-examples-of-countrywides-multiplier-effect/comment-page-1/#comment-5726 asagefield Sun, 29 Jun 2008 17:36:16 +0000 http://www.footnoted.org/?p=1932#comment-5726 I think a lot of banks are in denial. I don't know the terms of the deal, but is there anyway that Bank of America can back out at this point. I think a lot of banks are in denial. I don’t know the terms of the deal, but is there anyway that Bank of America can back out at this point.

]]> By: Dimitris http://www.footnoted.org/earnings-quality/more-examples-of-countrywides-multiplier-effect/comment-page-1/#comment-5648 Dimitris Wed, 18 Jun 2008 10:01:38 +0000 http://www.footnoted.org/?p=1932#comment-5648 It was a small bug on my part (I had forgotten to do one step). Good thing I read the comments on this post and noticed the error. All the listings have now been updated. It appears that the Antelope house was recently added on Countrywide's reo list. SeanDC is correct, and according to Trulia that house sold for $430k in 2006. That's still a 50% drop in price and not something to be too happy about if you bought it in 2006. It was a small bug on my part (I had forgotten to do one step). Good thing I read the comments on this post and noticed the error. All the listings have now been updated. It appears that the Antelope house was recently added on Countrywide’s reo list. SeanDC is correct, and according to Trulia that house sold for $430k in 2006. That’s still a 50% drop in price and not something to be too happy about if you bought it in 2006.

]]> By: Michelle Leder http://www.footnoted.org/earnings-quality/more-examples-of-countrywides-multiplier-effect/comment-page-1/#comment-5645 Michelle Leder Tue, 17 Jun 2008 19:48:24 +0000 http://www.footnoted.org/?p=1932#comment-5645 Gab: I don't know for sure that Countrywide owns the houses. All I know is that they're listed on Countrywide's REO site, so presumably if they were owned by someone else they wouldn't be listed there. Looking at the house at 27 Sevilla, though, <a href="http://egvsys.miamidade.gov:1608/wwwserv/ggvt/txcaw01.dia?folio=0341170053680 rel="nofollow">Citibank is listed</a> as the owner. I guess the bottom line is that making sense of who owns what is pretty tricky. A quick search of Miami Dade records shows that various units of Countrywide are listed as the owners for 109 properties in that county. As for the house in Antelope, I agree that it does seem like a typo, based on the Zillow records. I struck out when I tried to find the sales history in the Sacramento County records. Gab: I don’t know for sure that Countrywide owns the houses. All I know is that they’re listed on Countrywide’s REO site, so presumably if they were owned by someone else they wouldn’t be listed there. Looking at the house at 27 Sevilla, though, Citibank is listed as the owner. I guess the bottom line is that making sense of who owns what is pretty tricky. A quick search of Miami Dade records shows that various units of Countrywide are listed as the owners for 109 properties in that county.

As for the house in Antelope, I agree that it does seem like a typo, based on the Zillow records. I struck out when I tried to find the sales history in the Sacramento County records.

]]> By: gab http://www.footnoted.org/earnings-quality/more-examples-of-countrywides-multiplier-effect/comment-page-1/#comment-5643 gab Tue, 17 Jun 2008 17:46:42 +0000 http://www.footnoted.org/?p=1932#comment-5643 Do we know for sure that Countrywide is the owner of these houses? I thought it was possible that they're just servicing the portfolio and perhaps there were other lenders involved? Do we know for sure that Countrywide is the owner of these houses? I thought it was possible that they’re just servicing the portfolio and perhaps there were other lenders involved?

]]> By: SeanDC http://www.footnoted.org/earnings-quality/more-examples-of-countrywides-multiplier-effect/comment-page-1/#comment-5642 SeanDC Tue, 17 Jun 2008 17:41:14 +0000 http://www.footnoted.org/?p=1932#comment-5642 The $1.29 million original price shown for the Antelope, CA house is most likely a typo. It's identical to the pre-foreclosure price of the Anaheim Hills house right above it on the list, and if you look at the prior sale history in Trulia, you see that the Antelope house sold for $430,000 in 2006. I am just noting that; I certainly don't dispute the overall point of your post. The $1.29 million original price shown for the Antelope, CA house is most likely a typo. It’s identical to the pre-foreclosure price of the Anaheim Hills house right above it on the list, and if you look at the prior sale history in Trulia, you see that the Antelope house sold for $430,000 in 2006.

I am just noting that; I certainly don’t dispute the overall point of your post.

]]>