November 13, 2007

Countrywide loans drop 48 percent (Reuters)

The Countrywide bank is seen in Lakewood, Colorado, September 11, 2007. Countrywide Financial Corp, the largest U.S. mortgage lender, on Tuesday said it funded 48 percent fewer mortgages in October than a year earlier, and significantly reduced some of the riskier home loans that prompted its recent financial troubles. (Rick Wilking/Reuters)Reuters – Countrywide Financial Corp on
Tuesday said October mortgage loan volume fell 48 percent from
a year earlier, but credit quality has begun to stabilize as
the largest U.S. mortgage lender curtails riskier home loans.

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