Countrywide financial the subprime meltdown essay help

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Countrywide financial the subprime meltdown essay help

The Subprime Meltdown Case 1. We will look at the ethical issues, their cause, and possible action that could have prevented them. The time line of events begins in the late sixties to after the turn of the century.

countrywide financial the subprime meltdown essay help

Countrywide Financial is an institution for the lending of money in the form of mortgages and other financial instruments such as subprime loans. The subprime loans high profit paid out high commissions to the deal closer thus giving high incentives to sell more subprime loans.

After the market was fairly saturated with these subprime instruments, the agents loosened their standards in order to gain a great pool of customers.

By lowering their standard customer that normally would not qualify for any type of mortgage were being lent to in high volumes generating high short term profit and high commissions. The managers and agents receiving these high commissions were concerned only in themselves and not the company.

High interest rates of the variable interest loans went into effect, and the payees started defaulting. As the house of cards started to fall, the CEO set himself up with a sweetheart golden parachute deal and took all of his stock options to his own benefit and not the stakeholders.

The Bank of America bought Countrywide at a discount but had the ethical issues to handle. Identification of Key Issues The ethical issues throughout the life of Countrywide are a reflection of the corporate culture of its creator.

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That is to say, paying commission to people for making loans may sound like a proper way of doing business, but it leaves out an important part. The stakeholders assume that the managers and their agents will work for the betterment and increase the value of the company.

This was not the case in Countrywide. The managers and their agents worked only for their own financial benefits through a bonus and commission system of rewards. These rewards were not linked to the betterment or long term value to the company.

This is the list of the ethical issues involved: Possible Alternative Courses of Action What could or should have been done is what will be listed here for review.

It is tempting to just say Countrywide just tried to grow too fast, but a lie of that magnitude cannot survive the test of hindsight. The success of the years of high profit and bonuses put all caution to the wind, and management and their agents thought nothing could stop them from always increasing theCountrywide is a diversified financial services company focused primarily on real estate finance and related activities.

Since its founding in , Countrywide’s mission has been to help individuals and families achieve and preserve the dream of homeownership.

”Leadership: Countrywide is America's #1 home loan lender. Essay Writing; Countrywide Financial: The Subprime Meltdown misused; subprime loans on financial instrument November 14, Markets and Environment November 14, 0.

countrywide financial the subprime meltdown essay help

Countrywide Financial: The Subprime Meltdown misused caninariojana.coms the ethical issues that cause the downfall of Countrywide Financial. Countrywide Financial is an institution for the lending of money in the form of mortgages and other financial instruments such as subprime loans.

During Countrywide's peak profit years, the majority of the profits were generated by subprime loans.4/4(1).  Countrywide Financial September 26, “Countrywide Financial,” cofounded by Angelo Mozilo, was known as one of the most successful financial companies in the beginning of the 21st century.

The cofounder had a solid business philosophy; to help low-income individuals and minorities.

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Countrywide Financial And The Subprime Crisis Case Study: Countrywide Financial and the Subprime Crisis In the early s, Countrywide Financial was the largest provider of home loans for borrowers, with one.

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