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Countrywide Profit Sinks »

Posted by: estock101 1 year, 1 month ago

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Countrywide, the largest U.S. home lender, said losses on certain loans to more creditworthy borrowers contributed to a 33% drop in second-quarter net income. They slashed 2007 earnings outlook on expectations of "increasingly challenging" housing and mortgage markets. Countrywide's shares fell $2.56, or 7.5%, to $31.50 in recent trad