Countrywide Bank N.A./Bank of America/Landsafe
Rick Schluter Why Countrywide?

Broker (Schluter) claimed represented Countrywide Bank. Said not affiliated with Bank of America. Signed his contract in 2009. Bank of America recently told me Schluter their employee in 2008. Said I would have no problem getting HECM with FHA. Learned recently that FHA standards may have restricted this loan. FHA appraisal was to list repairs in set-aside but there were none listed. Schulter was happy. I mentioned that it was confusing but he assured me that for HECM, FHA had few restrictions. This appears to be false looking at FHA on Internet.

Huge contract came to my house with no time to read. I had no knowledge that there was a contract with Fannie Mae that provided a much larger amount for payback. Schulter called to tell me not to worry about this because that is standard amount for my country. Asked about repair set-aside missing and he said FHA had different standard for HECM.

Company: Countrywide Bank N.A./Bank of America/Landsafe
Country: USA
State: Arizona
City: Chandler
Address: 2505 West Chandler Blvd

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