Current or Former Countrywide Employees?

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ABC News in New York, New York

51 months ago

ABC News is working on a story looking at the subprime mortgage industry and Countrywide Financial. If you are a current or former employee of Countrywide and are interested in sharing your experiences, please contact us.

abcnews.go.com/WN/story?id=4360730&page=1

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Penny Rackley in Aurora, Colorado

50 months ago

I was a Colorado Countrywide/KB Home Loans Employee and part of the workforce reduction layoff. I have a lot to say. I was the only employee out of 23 employees, that did not receive any bonus payouts.
I had more tenure than anyone and trained my upper management. I was promoted twice and never received anything close to what the management was making, as new employees. They received bonuses of $114,00.00 for end of year and 40 to 50,000 qrtly bonuses. I was laid off Oct 11th and they hired someone else in my place. They said they couldn't keep me unless they had 1000 loans.
They hired someone with 400+ loans in the pipe. They did fraudulent loans and made everyone pull the numbers, in order to receive their upper management bonuses. I was promoted twice and yet only receive 1 merit increase in 3.5 years.
I was given letters of reference from my mgrs.and promised the highest of references, to any potential employers. I learned 3 1/2 months after looking for work, that the mgrs. were instructed to give no references for any employee.
Needless to say, I stopped using that reference letter. It isn't worth the paper it was written on! I witnessed 95% of all loans to be unworthy borrowers and the loans still had to be done, no matter what incentives had to be given, to acheive those high dollar goals. I am going to lose my home, my car and everything I have struggled for, because of their greed. Oh, and my severance pay? Well, the 2 weeks severance pay turned out to be 1/3 of the actual severance.

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