Don't worry - we don't really do those anymore...

On Countrywide Financial's pay-option ARM portfolio:
The pay-option ARM is CFC's highest-margin product, but investors are justifiably concerned about long-term default risk since many customers take these loans in order to be able to purchase a home, but don't really understand the product.... The bottom line is that most of these loans will not be due to reset to standard terms for several years, so any problems with the portfolio could be years away. In any event, CFC seems to have throttled back on originations for this product as well.
- Argus Research report, 12/1/2006

- Countrywide Financial window banner, San Francisco, 1/15/2007

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Ric Edelman is wrong on Roth 401(k)s and dollar-cost-averaging withdrawals

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