Mortgage news

News, trends and analysis of the mortgage and credit market

Friday, October 26, 2007

Countrywide reports $1.2 billion loss





October 26 2007 MarketWatch.com
Beleaguered mortgage lender Countrywide Financial Corporation reported Friday Oct 26 2007 its first quarterly loss in 25 years, a reflection of the turmoil in the credit markets that's roiled financial-services companies in the U.S. and elsewhere. However, Countrywide's shares surged more than 20% in premarket trading. The company maintained its dividend payout and said it has also negotiated $18 billion in additional liquidity that it characterized as "highly reliable." Countrywide also said it expects to turn a profit in the fourth quarter and in 2008.

Read more

Search For Best Rated Mortgage Companies In Your Area

Email this article to a friend | Send us a comment

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

Links to this post:

Create a Link

<< Home