Reuters is reporting that Countrywide is being investigated by the FBI. Here is a link to the Reuters article.
Several states have already launched investigations against some appraisers, and so it is not surprise that lenders are going to be investigated for the housing mess as well. With lenders having lax practices, investors purchased many securitized loans thinking that proper lending standards had been followed.
This will be interesting to follow as real estate continues to correct this year. Salem Oregon is still seeing a real estate correction and I am expecting it to continue. If you want information about our local Salem Metro area real estate market, please feel free to call or email me with any questions.