As rumors of an impending bankruptcy continued to hammer the company's stock, Countrywide Financial Corp. published statistics on December loan production a few days earlier than expected. The report -- which showed better-than-forecast loan fundings of $23.5 billion but a continuing rise in delinquencies and foreclosures in Countrywide's $1.5 trillion servicing portfolio -- failed to calm investors, with the lender's stock falling nearly 15 percent in early afternoon trading Wednesday. That follows a nearly 30 percent drop in Countrywide shares on Tuesday, after the company was forced to issue a statement denying rumors that it would declare bankruptcy (see Inman News story). In a statement accompanying the release of the December numbers, Countrywide Financial President and C...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.