From: BUILDER 2008
Posted on: June 25, 2008 11:09:00 AM

Illinois Plans to Sue Countrywide Financial

By:: Alison Rice

Angelo Mozilo just can't escape the headlines these days. The New York Times is reporting this morning that the State of Illinois plans to sue Countrywide Financial, the mortgage company headed by Mozilo. Illinois' attorney general, Lisa Madigan, asserts in the story (registration required) that "the company and its executives defrauded borrowers in the state by selling them costly and defective loans that quickly went into foreclosure."

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Subject: Legal Issues, Mortgages and Banking, Liability
Person: Angelo Mozilo
Organization: Countrywide Financial

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John McManus

Standard Pacific Strides Into the Black in Q1

Builder Pulse

John McManus is an award-winning editorial director for the Residential Construction Group at Hanley Wood in Washington, D.C. In addition to the BUILDER digital, print, and in-person editorial and programming portfolio, the group includes strategic content direction for AFFORDABLE HOUSING FINANCE, APARTMENT FINANCE TODAY, CUSTOM HOME, EcoHome, MULTIFAMILY EXECUTIVE, and residential architect.

Standard Pacific released first-quarter earnings post market close last night that beat Wall Street analysts' posted predictions. After a near brush with death in 2008, and life-support from MatlinPatterson's real estate funds, Standard Pacific's strategic, operational, and tactical planning and execution are playing well in what continues to be an adverse market environment in most of its competitive arenas.