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Countrywide Mortgage Reports Huge 3rd Quarter Loss
By admin | October 26, 2007
Countrywide economic Corp, the largest mortgage lender in the polity announced, before the hoard marketed opened on Friday, that it is posting a harm of 1.2 billion for the third quarter of 2007 because of millions it had to set aside in loan injury provisions, notation downs, and lowered allowance values.
This was the principal three-monthly demise posted by Countrywide in 25 years.
Corporate spokespeople, including President Angelo Mozilo still, were favourable, saying that...
Topics: Mortgage News |
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