Countrywide in Trouble
Monday, November 12, 2007
Countrywide is the world's largest lender, but they're in credit trouble and they've lost $1.2 Billion during the last quarter.
Seems ironic.
"In the latest filing, the company said some 5.8 percent of the loans in its servicing portfolio were behind in payments by 30 to 90 days as of Sept. 30, up from 4.5 percent in the year-ago quarter.
About 23.9 percent of its subprime loans made to borrowers with shaky credit histories were delinquent, up from 16.9 percent, the company said."
CNN Mony
posted by author @ 7:01 PM,
