Countrywide Loses $893M

June 2008
Mortgage Servicing News;Jun2008, Vol. 12 Issue 5, p24
The article reports on the financial performance posted by Countrywide Financial Corp. (CFC) during the first quarter of 2008 in Calabasas, California. The company took $3 billion of credit-related charges in the quarter, which widens its loss above expectations to $893 million or $1.60 per share. The company's mortgage production business remains robust, despite the generally weak market and the tightening of underwriting standards.


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