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ID: 35981
Title: Countrywide posts loss as bad loans soar (Reuters)
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A Countrywide branch in a file photo. Countrywide, the mortgage lender being acquired by Bank of America, on Tuesday posted a surprisingly large $893.1 million first-quarter loss, as it took more than $3 billion of charges for write-downs and bad loans. (Rick Wilking/Reuters)Reuters - Countrywide Financial Corp , the largest U.S. mortgage lender, posted a surprisingly large $893.1 million first-quarter loss on Tuesday, taking more than $3 billion of charges for write-downs and bad loans as the housing slump deepens.


Category: Business/
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Date Added: April 29, 2008 03:21:09 PM
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