I will give the homeless newbie a break for not using the search button. With the new forums software, I don't know how well it works, but the answer is there... somewhere.
Countrywide has been hit with an extreme amount of foreclosures/distressed properties in a very short period of time, and they are only getting worse. So, they do not have the staff in the loss mit dept. to handle the volume, nor do they have experienced people who know what they are doing. I picture in 2005 a loss mit dept. of 3 people, who all took two hour lunches, and played solitaire most of the day. Then I fast forward to today, and picture that same staff of 3, trying to run a staff of 200 people (who don't have a clue what they are doing), not eating, drinking too much coffee, constantly popping Xanax and Valium, constantly cursing Mozillo, and at the end of their 12 hour day around 9pm they open their desk drawer to bust out the bottle of wild turkey, only to pass out at their desk and to wake up the next day to do it all over again.
Sadly, this is almost true. I know someone who is a manager in a loss mit dept. for a major bank, I haven't seen him in the last year, and I haven't even heard from him in the last six months. I am hoping he is still sane.
