Dan Gross: Countrywideâs $2 Billion Bailout
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In less than a month, Americaâs largest mortgage lender went from Wall Street sweetheart to being seen as nearly bankrupt. What happened?
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Countrywide Financial Corp, the largest U.S. mortgage lender, said on Friday it plans to cut 10,000 to 12,000 jobs to cope with weak housing demand, rising foreclosures and tightening credit markets.
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Bank of America Corp, the second-largest U.S. bank, is in advanced talks to buy Countrywide Financial Corp, the largest U.S. mortgage lender, a person familiar with the matter said on Thursday.
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Bank of America Corp said on Friday it agreed to acquire Countrywide Financial Corp, the largest U.S. mortgage lender, in a $4 billion transaction that could help avert one of the biggest collapses in the U.S. housing crisis.
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Countrywide Financial Corp , the mortgage lender being acquired by Bank of America Corp , posted a larger-than-expected $421.9 million quarterly loss on Tuesday as more homeowners fell behind on payments.
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Countrywide Financial Corp , the battered mortgage lender being acquired by Bank of America Corp , posted a $421.9 million fourth-quarter loss on Tuesday, hurt by mounting defaults in a sinking housing market.
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Bank of America will pay in stock for Countrywide Financial, the lender that became a symbol of the excesses that led to the subprime mortgage crisis.
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Countrywide Financial Corp , the largest U.S. mortgage lender, on Tuesday offered to refinance or restructure up to $16 billion of adjustable-rate mortgages through the end of 2008.
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Bank of America Corp  on Friday said it agreed to acquire struggling mortgage lender Countrywide Financial Corp  for about $4 billion in stock, a move that could help avert one of the biggest collapses in the U.S. housing crisis.
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Despite $1.2 billion third quarter loss, Countrywide Financial Corp. shares soared and officials say the company expects to return to profitability
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Bank of America Corp  said on  Friday it would buy battered mortgage lender Countrywide  Financial Corp  for $4 billion, a move that could avert  one of the biggest collapses in the U.S. housing crisis.
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Shares of Countrywide Financial Corp., the nation's largest mortgage lender, sank to an all-time low Tuesday as a major homebuilder offered a grim outlook for the industry
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Countrywide Financial Corp , the largest U.S. mortgage lender, posted a $1.2 billion third-quarter loss on Friday, hurt by write-downs as the U.S. housing market deteriorated.
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LOS ANGELES, Jan. 27 -- Countrywide Financial chief executive Angelo R. Mozilo, under fire over the size of his potential payout from the proposed sale of his troubled mortgage company, says he is forfeiting $37.5 million in severance pay, fees and perks he was scheduled to receive upon retirement.
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CHARLOTTE - Countrywide Financial Corp. , the biggest US mortgage lender, said profit will rebound from its first quarterly loss in 25 years as it cuts jobs and tightens lending standards. Shares rose $4.23, or 32.4 percent, to $17.30, the biggest increase in more than two decades.
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Countrywide Financial Corp , the battered mortgage lender being acquired by Bank of America Corp , posted a larger-than-expected fourth-quarter loss on Tuesday, as a sinking housing market caused more borrowers to fall behind on payments.
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NEW YORK -- Bear Stearns Cos. offered $3.2 billion in loans to bail out one of its failing hedge funds, the biggest rescue since 1998, after creditors started seizing assets and investors demanded their money back.