Home › Forums › Financial Markets/Economics › Is Countrywide Bank separate from Countrywide mortgage?
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susa.
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August 16, 2007 at 11:51 AM #9903August 16, 2007 at 5:29 PM #76696
bsrsharma
Participanthttp://www.latimes.com/business/la-fi-countrywide16aug16,0,1376411.story?page=1&coll=la-home-center
…………..However, the turmoil could spook depositors at Countrywide Bank, an Alexandria, Va.-based savings and loan that has grown dramatically since Countrywide Financial bought it in 2000. Nearly 40% of the bank’s $57.7 billion in deposits were not insured by the Federal Deposit Insurance Corp. as of March 31, according to the FDIC website.
“If something happens to the parent company, the bank should be able to stand alone,” said FDIC spokesman David Barr, who advised worried depositors to talk to the bank about structuring their accounts so they are completely insured. The FDIC insures individual accounts up to $100,000, but a married couple can insure up to $1 million in deposits at a single institution by setting up multiple accounts, Barr said……………..
August 16, 2007 at 5:29 PM #76816Participanthttp://www.latimes.com/business/la-fi-countrywide16aug16,0,1376411.story?page=1&coll=la-home-center
…………..However, the turmoil could spook depositors at Countrywide Bank, an Alexandria, Va.-based savings and loan that has grown dramatically since Countrywide Financial bought it in 2000. Nearly 40% of the bank’s $57.7 billion in deposits were not insured by the Federal Deposit Insurance Corp. as of March 31, according to the FDIC website.
“If something happens to the parent company, the bank should be able to stand alone,” said FDIC spokesman David Barr, who advised worried depositors to talk to the bank about structuring their accounts so they are completely insured. The FDIC insures individual accounts up to $100,000, but a married couple can insure up to $1 million in deposits at a single institution by setting up multiple accounts, Barr said……………..
August 16, 2007 at 5:29 PM #76845Participanthttp://www.latimes.com/business/la-fi-countrywide16aug16,0,1376411.story?page=1&coll=la-home-center
…………..However, the turmoil could spook depositors at Countrywide Bank, an Alexandria, Va.-based savings and loan that has grown dramatically since Countrywide Financial bought it in 2000. Nearly 40% of the bank’s $57.7 billion in deposits were not insured by the Federal Deposit Insurance Corp. as of March 31, according to the FDIC website.
“If something happens to the parent company, the bank should be able to stand alone,” said FDIC spokesman David Barr, who advised worried depositors to talk to the bank about structuring their accounts so they are completely insured. The FDIC insures individual accounts up to $100,000, but a married couple can insure up to $1 million in deposits at a single institution by setting up multiple accounts, Barr said……………..
August 16, 2007 at 6:20 PM #76705The-Shoveler
ParticipantNor_LA-Temcu-SD-Guy
Yea We have a FDIC CD with Countrywide Bank,
My wife was on the phone trying to get our money out anyway,
Took all day to get through, seems they are having a bit of a run on the bank.
August 16, 2007 at 6:20 PM #76825ParticipantNor_LA-Temcu-SD-Guy
Yea We have a FDIC CD with Countrywide Bank,
My wife was on the phone trying to get our money out anyway,
Took all day to get through, seems they are having a bit of a run on the bank.
August 16, 2007 at 6:20 PM #76854ParticipantNor_LA-Temcu-SD-Guy
Yea We have a FDIC CD with Countrywide Bank,
My wife was on the phone trying to get our money out anyway,
Took all day to get through, seems they are having a bit of a run on the bank.
August 16, 2007 at 6:37 PM #76711Participantmoney out anyway
Did you want to cash the CD before due date? That may cause them some problem. I can't believe they can hold up funds rightfully yours and remain solvent.
August 16, 2007 at 6:37 PM #76831Participantmoney out anyway
Did you want to cash the CD before due date? That may cause them some problem. I can't believe they can hold up funds rightfully yours and remain solvent.
August 16, 2007 at 6:37 PM #76860Participantmoney out anyway
Did you want to cash the CD before due date? That may cause them some problem. I can't believe they can hold up funds rightfully yours and remain solvent.
August 17, 2007 at 5:31 AM #76832ParticipantNor_LA-Temcu-SD-Guy
Our CD had just Matured, But there may be others who just want out anyway they can get, (If FDIC then I would wait until the CD Matured, unless you had over the 100K per SSN in there).
August 17, 2007 at 5:31 AM #76953ParticipantNor_LA-Temcu-SD-Guy
Our CD had just Matured, But there may be others who just want out anyway they can get, (If FDIC then I would wait until the CD Matured, unless you had over the 100K per SSN in there).
August 17, 2007 at 5:31 AM #76979ParticipantNor_LA-Temcu-SD-Guy
Our CD had just Matured, But there may be others who just want out anyway they can get, (If FDIC then I would wait until the CD Matured, unless you had over the 100K per SSN in there).
August 17, 2007 at 7:55 AM #76924susa
Participanthow’s GNMA Bank ? anyone here using their money market account with check writing ?
August 17, 2007 at 7:55 AM #77046Participanthow’s GNMA Bank ? anyone here using their money market account with check writing ?
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