Thursday 19th of October 2017

Fire in the Belly PDF Print E-mail

Countrywide has survived as the last major independent mortgage banker against competitors with deeper pockets and higher leveraging. The trick has been constantly improving productivity and being willing to reinvent itself when the competitive environment changed. Now a new bank and a huge cadre of newly hired commissioned salespeople are part of the winning strategy.

Mortgage Banking
January 2002

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Assault on the Mortgage Lenders PDF Print E-mail

National Review 

December 27, 1993 

QUIETLY, behind the scenes, the Clinton Administration is preparing for the biggest regulatory crackdown of recent years. Attorney General Janet Reno is linking up with banking regulators and with HUD Secretary Henry Cisneros to end the supposed epidemic of discrimination against minorities in making home loans. The implications for society at large are ominous.

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Congress, Nader and the Ambulance Chasers PDF Print E-mail

With allies like erstwhile consumer advocate Ralph Nader and leading congressional Democrats, trial lawyers have emerged as America's fattest cats, waging war against producer and consumer alike and exerting veto power over all attempts at product-liabilty and no-fault tort reform.

American Spectator

September 1990

Last September a school busy carrying seventy children collided with a Coca-Cola delivery truck at a crossroads in Alston, Texas. The bus veered off the highway, plunged over an embankment, and crashed upside down in a gravel pit filled with water. Twenty-one of the children, the bus driver, and the truck driver were killed. It was the worst school bus accident in Texas history.

The tragedy was followed by a travesty. Hordes of trial lawyers converged on Texas and starting bidding on clients, offering the grief-stricket families traileres, van, and new homes if they would sign contingency contracts -- which guarantee lawyers a set percentage of any damages received -- to sue the deep pockets of the Coca-Cola Company and the local government that owner the gravel pit. In April a settlement for $67.5 million was reportedly reached with the families of sixteen of the students killed.

A handful of trial lawyers walked away with $25 million, earning hourly fees that ranged from $10,000 to $40,000, according to Lester Brickman, a professor at the Cardozo School of Law at Yeshiva University in New York.

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