Country-Wide

Apr 30th, 2015
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Strayer University
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This paper is about the case study of Countrywide Financial and the subprime mortgage meltdown. Countrywide Financial had become the largest provider of home loans in the United States before its demise. This paper identifies the key stakeholders and the impact of the operational and ethical issues they encountered. Secondly, it summarizes the key legal issues related to federal consumer protection law. Thirdly, it summarizes the key ethical issues that are presented, and then summarizes the cost of the company’s actions in the case. Finally, it recommends corrective action for each of the legal and ethical issues outlined.

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Kevin D. LowtherDr. Stephen Knights, Jr.Law, Ethics, and Corporate Governance Strayer University Spring 2010 AbstractThis paper is about the case study of Countrywide Financial and the subprime mortgage meltdown. Countrywide Financial had become the largest provider of home loans in the United States before its demise. This paper identifies the key stakeholders and the impact of the operational and ethical issues they encountered. Secondly, it summarizes the key legal issues related to federal consumer protection law. Thirdly, it summarizes the key ethical issues that are presented, and then summarizes the cost of the companys actions in the case. Finally, it recommends corrective action for each of the legal and ethical issues outlined. On its way to becoming the nations largest mortgage lender, Countrywide Financial became one of the nations largest business failures in recent decades. Founded in 1969 in part by Angelo Mozilo, it had become the largest provider of home loans in the United States, with one in every six U.S. loans being originated with Countrywide (Ferrell, Ferrell, Fraedrich, p. 384, 2010). However, Countrywides entire operation, from its computer system, to its incentive pay structure and financing arrangements, was intended to obtain maximum profits out of the mortgage lending upswing no matter what the cost was to its primary stakeholde

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