Comments on: Countrywide CEO Mozilo Calls Homeowner Disgusting? Not so fast. http://brokerscience.com/legal/countrywide-mozilo-homeowner-disgusting/ Mortgage Marketing | Mortgage News, Tools and Resources Wed, 10 Mar 2010 05:33:35 -0500 http://wordpress.org/?v=2.9.2 hourly 1 By: Trace Richardson http://brokerscience.com/legal/countrywide-mozilo-homeowner-disgusting/#comment-111 Trace Richardson Thu, 22 May 2008 00:08:26 +0000 http://brokerscience.com/?p=151#comment-111 @Sam, I'm not sure why the borrower had to mail 20 employees....I think the mentality that told him it was ok to spam random Countrywide employees was the same mentality that told him that sending an email over such a serious issue was satisfactory vs writing a real letter. @Sam, I’m not sure why the borrower had to mail 20 employees….I think the mentality that told him it was ok to spam random Countrywide employees was the same mentality that told him that sending an email over such a serious issue was satisfactory vs writing a real letter.

]]> By: Sam Davos http://brokerscience.com/legal/countrywide-mozilo-homeowner-disgusting/#comment-110 Sam Davos Wed, 21 May 2008 23:04:15 +0000 http://brokerscience.com/?p=151#comment-110 Where are the process guys? Countrywide pays the officers so much in compensation. If the email was a cookie cutter, may be an "auto response" with a follow up phone call should have been initiated. Why did the borrower have to write the 20 letters to 20 employees in the first place? Sounds like process people are sleeping.... Where are the process guys? Countrywide pays the officers so much in compensation.
If the email was a cookie cutter, may be an “auto response” with a follow up phone call should have been initiated. Why did the borrower have to write the 20 letters to 20 employees in the first place? Sounds like process people are sleeping….

]]> By: Morgan http://brokerscience.com/legal/countrywide-mozilo-homeowner-disgusting/#comment-112 Morgan Wed, 21 May 2008 06:47:41 +0000 http://brokerscience.com/?p=151#comment-112 Hi Trace, Thanks for the link - Countrywide actually responded with the following: “Countrywide and Mr. Mozilo regret any misunderstanding caused by his inadvertent response to an e-mail by Mr. Bailey. Countrywide is actively working to help borrowers, like Mr. Bailey, keep their homes.” So the email was legit - but I do agree with you there is blame on all sides. I personally don't find using a form letter as the basis for a request as disgusting. Form letters have been used forever as a means of raising awareness of a particular issue and advocacy groups from farmers to labor unions have provided their constituents form letters to contact their representatives. I think the disgusting part is less interesting being directed toward a borrower and more interesting as a telling sign that the stress and sheer volume of loan modification requests is swamping the ship. They are clearly not cut out as a company to handle the change in tide. It will be interesting to see where this goes though. Hi Trace,

Thanks for the link – Countrywide actually responded with the following:

“Countrywide and Mr. Mozilo regret any misunderstanding caused by his inadvertent response to an e-mail by Mr. Bailey. Countrywide is actively working to help borrowers, like Mr. Bailey, keep their homes.”

So the email was legit – but I do agree with you there is blame on all sides. I personally don’t find using a form letter as the basis for a request as disgusting. Form letters have been used forever as a means of raising awareness of a particular issue and advocacy groups from farmers to labor unions have provided their constituents form letters to contact their representatives.

I think the disgusting part is less interesting being directed toward a borrower and more interesting as a telling sign that the stress and sheer volume of loan modification requests is swamping the ship. They are clearly not cut out as a company to handle the change in tide.

It will be interesting to see where this goes though.

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