January 9, 2008

Countrywide home loan delinquencies rise (AP)

An employee of Countrywide walks into the Northridge branch in Los Angeles, Calif., in this Aug. 22, 2007 file photo. Countrywide Financial Corp.'s shares tumbled for the second day Wednesday, Jan. 9, 2008, after the nation's largest mortgage lender said the delinquency and foreclosure rate of home loans in its portfolio surged in December.  The news drove Countrywide shares down almost 10 percent in midday trading. (AP Photo/Kevork Djansezian, file)AP – Countrywide Financial Corp., its stock pummeled this week by rumors of bankruptcy and lackluster housing market forecasts, said Wednesday the percentage of borrowers who missed payments on home loans last month rose, signaling worsening trouble for the nation’s largest mortgage lender and for the entire mortgage sector.

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