Countrywide’s ambition to help more Americans take part in the “American dream” of homeownership was a noble gesture. However, as noble as the goal was Countrywide failed to protect themselves and the same people they desired to help. The demographic of borrowers Countrywide marketed to were specific: low-income and minorities. Countrywide saw a need and a wide open opportunity to make money, however, they also took a large risk with offering loans to borrowers that would not have met the standards for a “traditional” loan. At first the borrowers were able to keep up with their loan payments (the economy was stable and the job market was solid). Under the subprime lending “there are three categories Countrywide primarily contracted; interest
UST Inc. is a dominant player in the smokeless tobacco industry. We have been tasked with weighing the cost and benefits of having leverage in their capital structure and to advise the CEO whether or not to go ahead with the recapitalization. After solving for UST’s credit ratings and value given three different stock buyback scenarios, $700 million, $1 billion, and $1.5 billion, we would suggest that UST move forward with the recap at $1 billion.
On the evening of January 5, 1993, Tracie Reeves and Molly Coffman, both twelve years of age and students at West Carroll Middle School, spoke on the telephone and decided to kill their homeroom teacher, Janice Geiger. They agreed that Coffman would bring rat poison to school the following days so that it could be placed in Geiger's drink. After that , they would steal Geiger's car and drive to the Smoky Mountains. On the morning of January 6, Coffman placed a packet of rat poison in her purse and board the school bus. Coffman told another student, Christy Hernandez, of the plan and show her the poison. Hernandez went and informed her homeroom teacher, Sherry Cockrill. Cockrill then informed the school principal, Claudia Argo. When Geiger entered her classroom that morning, she observed Reeves and Coffman leaning over her deck; and when the girls noticed her, they giggled and ran back to their seats. Geiger saw a purse lying next to her coffee cup on the top of the desk. Shortly after Argo called Coffman to the principal's office, rat poison was found in Coffman's purse. Both Reeves and Coffman gave written statement to the Sheriff investigator concerning their plan to poison Geiger and steal her car.
Baylor Scott & White believe they have a competitive advantage in the healthcare market. Currently they are the “largest not-for-profit health care system in Texas, and one of the largest in the United States, Baylor Scott & White Health was born from the 2013 combination of Baylor Health Care System and Scott & White Healthcare.” 1 The goal of the merger was to create a new healthcare model in the ever changing world of healthcare reform. The size of the new market created in 2013, is larger then the state of Virginia. They are a competitive employer having over 34,000 employees and over 6000 physicians in the state of Texas. The merger also resulted into 44 hospitals and over 500 “patient care site” to serve the people of Texas. Their size and presence in the healthcare market alone
"Home Owners Loan Corporation." Next New Deal. Roosevelt Institute, 2014. Web. 16 Mar. 2014. .
These individuals purchased items under pretense thinking they would be able to buy a home despite their mishaps such as outstanding medical debts, divorce issues and unemployment factors that Countrywide was willing to disregard. “Countrywide creates specialized divisions to work to help the borrowers and actively informed their customers about their options (Ferrell, 2011) p.388.” Therefore, allowing these poor people to own their property would be a dream that could come true, which was a misleading strategy. In fact, throughout the article, I would find examples of various ways this dream became a nightmare. For example, a lot of these homes were funding through government access, which means, we all know the amount of trouble an individual can encounter from defrauding the government. However, Countrywide neglected to look beyond the consumer’s purchasing of the property. In fact, the company did manage to supply the user with the funds for purchasing the property and making the return payment process economically convenient for the customers to repay. However, they never explored the risk factors or expose the users to the entire loan process. These methods cause a great strain on the company by making them appear as dishonest and the customers by making them leery of entrusting any other organization these are the ethics that caused the meltdown of Countrywide financial
A majority of mortgage defaults that Americans used were on subprime mortgage loans, which were high-interest-rate loans lent to people with high risk credit rates (Brue). Despite knowing the risks, the Federal government encouraged major banks to lend out these loans to buyers, in hopes, of broadening ho...
Countrywide’s business tactic was “Fund ‘em”. If a person does not have a job, or any assets the answer was still “Fund ‘em”. This is a practice called subprime lending which allows loan...
The plaintiff was a patient at Mesilla Valley Hospital at the inpatient mental facility, while she was seeking treatment there; one of their staff Joseph Herrera (technician) sexually battered her. Plaintiff is suing the County of Dona Ana, because Herrera used to work for them as a detention sergeant, during his employment with the county he was known to be sexually abusive towards female inmates. His supervisors were aware of his behavior and were arranging his suspension and eventually terminating him; nevertheless Herrera quit before any further action was taken against him. Before his resignation Herrera asked for a letter of recommendation, he was given one that mentioned he was an excellent worker
Linda Medina was admitted to Kindred Hospital with a diagnosis of respiratory failure. She came to Kindred intubated and was on a ventilator because she was unable to breathe on her own. Initially, Mrs. Medina was not an appropriate candidate for physical, occupational, or speech therapy due to her respiratory status.
Mortgage loans are a substantial form of revenue for the financial industry. Mortgage loans generate billions of dollars in the financial industry. It is no secret that companies have the ability to make a lot of money by offering a variety of mortgage loan products. The problem was not mortgage loans but that mortgage companies were using unethical behavior to get consumer mortgage loans approved. Unfortunately, the Countrywide Financial case was not an isolated case. Many top name mortgage companies have been guilty of unethical behavior. Just as the American housing market was starting to recover from its worst battering since the Great Depression, a new scandal, an epidemic of flawed or fraudulent mortgage documents, threatens to send not just the housing market but the entire economy back into a tailspin (Nation, 2010).
In “The Big Short”, this movie about the economic collapse of 2008 in America highlights how Americans of all racial backgrounds were hit hard when the housing market collapsed. The film provides a very compelling argument and describes how the market crashed because banks began to give out more unstable loans out to people in order to sell more properties, which eventually led to the housing market to be built upon millions of risky loans. This practice grew until the housing market became too unstable because of all the risky loans and resulted in an economic crash. The housing market collapse led to millions of Americans to lose their homes because of foreclosures and led to massive amount of homelessness and unemployment since the Great
The Hospital provides free services to the clergy and parents of hospitalized children. Hospital provides annual checkups free of charge to its alumni mostly occurred at the time of the annual reunion.
The purpose of this case study is to investigate and bring new insight to situations and behaviors within an organization. Case studies are learning tools which utilize social science research to identify and resolve individual and organizational challenges (K. Mariama-Arthur Esq., 2015).
Countrywide Financial was an organization that was considered too big to fail, because of the large ranging impact its failure would have on multiple stakeholders throughout the world. Furthermore, the company carried billions of dollars in mortgaged home loans and was considered to be the largest home loan provider in the United States. But, somehow unknowingly to regulators this organization created a culture and environment within its organization of widespread corruption with unethical financial reporting. Sadly, the leaders of Countrywide Mortgage pursued greed instead of the financial security that its customers were seeking.
Advice on current best practice in the structure and operations of the ICM model for rough sleepers with complex needs