Industry News

Countrywide’s fate could hinge on rating agencies

Bank could lose $5.5 billion in custodial accounts
Published on Nov 13, 2007

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by CareyBot

Countrywide Financial Corp. is warning investors that its strategy to weather the disruption in secondary mortgage markets — by funding loans through its banking subsidiary — could be jeopardized if the company’s credit ratings are downgraded to junk status. Countrywide ...