Forensic "Securitization" Auditing, Chain of Title Analysis, Legal Support Services, Bonded & Insured
(406) 328-4075

Was Countrywide The Real “Lender,” Or Merely An “Agent” For The Lender? More Deception Regarding “America’s Wholesale Lender.”

Over the last few years, I have conducted many investigations involving the “America’s Wholesale Lender” and “Countrywide” fact pattern. Though these cases have many similarities, no two cases are exactly alike. Such is the case in a recent investigation involving these entities in North Carolina.

For those of you who originated a loan with either of these parties, check your closing documents closely. In this particular case, a broker took the application and submitted the file to “America’s Wholesale Lender” for approval. During the underwriting process, a “Good Faith Estimate” was provided that shows the following:

This disclosure states that the “lender” is (or will be) “America’s Wholesale Lender” either acting as itself, or as agent for Countrywide Bank, N.A. This disclosure in and of itself is deceptive.

At the closing table, the borrower was provided with the federal “HUD-1 Settlement Statement” naming the “lender” as follows:

On this “HUD-1,” fees are paid to and from “America’s Wholesale Lender” (AWL) as follows. This is proof that AWL was the lender and source of funds on the subject loan.


However, the named “lender” on the Deed of Trust and Adjustable Rate Note was “Countrywide Bank, N.A. – a federal savings bank.”

In this particular case, MERS is also named as the beneficiary and nominee for lender and lender’s successor and assigns. So by these entities’ own admission in the “Good Faith Estimate,” the named lender on the Deed of Trust was not really the lender, but rather an agent of the lender. And to make matters worse, MERS was acting as the nominee/agent for the lender’s agent. This is a serious problem folks! The security instrument and note fails to identify the true lender/creditor/source of funds.

Now I should also add the following facts:

  1. The subject loan was originated in 2005. I checked the list of subsidiaries for “Countrywide Financial Corp.” by going to the SEC’s government website at The following link is to “Exhibit 21 – Subsidiaries” for Countrywide Financial Corp’s fiscal 2005, 10-K filing on 03/01/2006:

There is no subsidiary named “America’s Wholesale Lender.”

2.  There is also no record of “America’s Wholesale Lender” being registered in the State of North Carolina.

So the facts are self explanatory. This case represents an illegal, non-existent, unregistered “lender” funding a loan while hiding behind the mask of “Countrywide Bank, N.A. – Federal Savings Bank.” And by the way, don’t let anyone convince you these entities were the same. It’s simply not true.

William Paatalo

Oregon Private Investigator – OR PSID# 49411

April 6, 2014



10 Responsesto “Was Countrywide The Real “Lender,” Or Merely An “Agent” For The Lender? More Deception Regarding “America’s Wholesale Lender.””

  1. Janet says:

    I see that my 2004 Deed of Trust lists the lender as America’s Wholesale Lender, but the note says it is Countrywide Home Loans, Inc. AWL has never been registered here in Oregon either. Time to dig out my closing papers.

  2. Dan Schramm says:

    AWL was never a corp in FL or Indiana. It was registered as an assumed name in Indiana in all counties. In FL it was registered as an assumed name in only one county, Leon. People are still being foreclosed on the basis of these bogus loans. It was alleged to be a NY corp, but never was.

  3. Janet says:

    And when some wise New Yorkers did register America’s Wholesale Lenders as a New York corporation, CountryWide sued them! They had only trademarked the name.

  4. jimmy says:

    I can assure you AWL is not a lender. I had a finance license for years and can assure you there is no confusion on your status. Whats more important is why are the regulation agencies not handling this. The process is simple , they must apply with secretary of state is the first hurdle and supposed to check and make sure they are legit, second hurdle is state savings and loan department and once again supposed to check then local consumer credit commissioner- that is 3 hurdles and lastly when you go to closing the title company would pick this up right away. This is standard process and straight forward. No one could miss this. Title Company and court house clerk search records for CountryWide Home Loans Inc. dba Americas Wholesale Lender and if it does not exist you cannot close on title and no funding takes place. This maybe confusing for the laymen but standard operation policy. I know, my wife does title work. This is no mistake it is fraud. Now the most important question, why did 49 state attorney generals sue the banks for illegal mortgage practices and win but yet the homeowner is still fighting its position. Banks have already admitted fault so why is homeowner having to fight them.

  5. Janet says:

    Check out the Nash case decided in Florida last week, the judge ordered B of A to pay back every cent the homeowner had paid because the lender was the non-existent corporation American’s Wholesale Lender.

  6. What I read so far is informative

Leave a Reply

Your email address will not be published. Required fields are marked *

* Copy This Password *

* Type Or Paste Password Here *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>