Industry News

Countrywide’s mortgage profits decline

Company cites lower margins, prepayments, loan losses as causes
Published on Jan 30, 2007

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by CareyBot

Countrywide Financial Corp. posted record earnings in 2006, even as profits in mortgage banking fell 15 percent from 2005. Countrywide’s net earnings of $2.67 billion, or $4.30 per share, represents a 6 percent increase from the $2.53 billion posted in ...