Countrywide posts loss
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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  shares slid as much as 19.9 percent to their lowest level in nearly eight years on what traders called speculation that the largest U.S. mortgage lender might seek bankruptcy protection.
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Countrywide Financial Corp., its stock pummeled this week by rumors of bankruptcy and lackluster housing market forecasts, said Wednesday the percentage of borrowers who missed payments on home loans last month rose, signaling worsening trouble for the nation's largest mortgage lender and for the entire mortgage sector.
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LOS ANGELES - A lawsuit filed against Countrywide Financial Corp. on behalf of its employees claims the mortgage lender failed to warn them about the depth of its financial troubles, resulting in heavy stock losses in their 401(k) retirement accounts.
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Countrywide Financial Corp. CFC.N on  Wednesday posted a 47 percent drop in quarterly earnings and  cut its outlook as mortgage refinancings fell and interest  rates climbed, sparking a broad sell-off in mortgage-company  stocks.
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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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LOS ANGELES -- Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it swung to a loss in the fourth quarter due to rising loss provisions and impairment charges as more borrowers fell behind on mortgage payments. The earnings fell well short of Wall Street estimates.
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Countrywide Financial Corp   said on Thursday that mortgage loan funding tumbled 40 percent  to $23 billion in November, sending its shares down nearly 4  percent before the market opened.
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Washington Mutual, the savings and loan, said on Thursday that it had swung to a $1.87 billion loss in the fourth quarter, hurt badly by the sinking value of its mortgage portfolio.
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Stocks cut their losses on Tuesday after Countrywide Financial Corp  said there was "no substance" to market rumors the largest U.S. mortgage lender was facing bankruptcy.
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Stocks turned sharply negative on Tuesday as shares of financial services companies slid with traders citing rumors of more financial problems at Countrywide Financial Corp , the largest U.S. mortgage lender.
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Shares of Countrywide Financial, the nation's largest mortgage lender, plummeted yesterday on rumors, which the company denied, that it was contemplating a bankruptcy filing. The drop came on yet another bad day for the stock market, which has been off to a terrible start for 2008.
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Washington Mutual Inc , the largest U.S. savings and loan, posted a $1.87 billion fourth-quarter loss on Thursday, its first quarterly loss in more than a decade, battered by mortgage defaults and write-downs.
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Washington Mutual Inc , the largest U.S. savings and loan, suffered a larger-than-expected $1.87 billion fourth-quarter loss on Thursday, battered by mortgage defaults and write-downs.
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Countrywide Financial Corp, the mortgage lender that agreed this month to be 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  on Tuesday denied market speculation it might seek bankruptcy protection, after shares of the largest U.S. mortgage lender slid to their lowest level in nearly eight years.
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WASHINGTON - Countrywide Financial Corp. , the biggest US mortgage lender, fell for the fourth straight day in New York trading after regulators began an informal investigation of stock sales by chief executive Angelo Mozilo.