Countrywide says foreclosures highest on record
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Countrywide Financial Corp, the largest U.S. mortgage lender, said on Wednesday that foreclosures and late payments rose in December to the highest on record, sending its shares tumbling for a second day to their lowest in nearly 13 years.
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CALABASAS, Calif. -- Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans whose interest rate is set to adjust by the end of 2008.
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Individual bankruptcies in England and Wales have risen to their highest level on record, official figures show.
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Countrywide Financial Corp  said on Wednesday it funded $23.4 billion of mortgage loans in December, up 1 percent from November, and that lending activity for the quarter topped its forecast.
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Countrywide Financial Corp  posted a $1.2 billion third-quarter loss on Friday, but its shares climbed after the largest U.S. mortgage lender said it expected to be profitable in the fourth quarter and in 2008, and has weathered the worst of the nationwide housing downturn.
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Countrywide Financial Corp. , the largest U.S. mortgage lender, on Monday said it has minimal exposure to nonprime mortgages, but may still experience fluctuating earnings in the near term due to turmoil in the U.S. subprime market.
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Countrywide Financial Corp , the largest U.S. mortgage lender, plans to cut 10,000 to 12,000 jobs to cope with weakened housing demand, rising foreclosures, and tightening credit markets.
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Applications for home mortgages jumped to their highest level in nearly four years as low interest rates led more homeowners to seek refinancing, according to data from an industry group on Wednesday.
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Defaults on privately insured mortgages rose 34.7 percent in November to the highest level on record, reflecting the inability of a growing number of homeowners to keep current on their loan payments.
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NEW YORK/LONDON  - New evidence of damage wrought by the U.S. mortgage sector surfaced in the United States and Europe on Wednesday while banks demanded a record amount of cash at a euro zone money market auction.
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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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High numbers of residents in foreclosure in these 50 counties owe more than what their homes are worth.
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Massachusetts experienced the second-biggest increase in foreclosure activity in the country last month, according to a report yesterday from a firm that tracks the housing market.
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U.S. homeowners began the foreclosure  process at a record pace in the first quarter of 2007, largely  due to a sharp rise in previously hot real estate markets such  as California and Florida.
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Lenders launched foreclosure actions against more than one in every 200 U.S. mortgage borrowers in the fourth quarter of 2006, the biggest share of homes at the start of the repossession process on record.
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CALABASAS, Calif., Sept. 12 -- Countrywide Financial said Thursday that it had increased its borrowing capacity by $12 billion as it struggles to weather the slowdown in the housing market.
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Countrywide Financial Corp , the largest U.S. mortgage lender, said on Thursday that it had lined up $12 billion of secured financing to help cope with a housing slowdown that has reduced loan demand and will lead to widespread layoffs.