Industry News

Countrywide’s $1.2 billion quarterly loss first in 25 years

Lender expects return to profitability in Q4
Published on Oct 26, 2007

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by CareyBot

Countrywide Financial Corp. today reported $1.2 billion in third-quarter losses — the first time the company has dipped into the red in 25 years — but said it will be profitable in the fourth quarter after tightening underwriting guidelines and ...