realtysouth: Buffett to the rescue . . . again?
- 08/21/07 05:06 AM
Countrywide Financial (CFC, news, msgs)may be getting a big-name backer. Investment guru Warren Buffett could be interested in buying parts of the troubled mortgage lender, which has suffered immensely in the market's recent turmoil, The Wall Street Journal is reporting. Countrywide, which was trading at $40.56 three months ago, has since lost 51% of its value as delinquencies and foreclosures have risen and credit has tightened. At midday, shares were up $1.88, or 9.5%, to $21.69. Buffett, whose Berkshire Hathaway (BKA.A, news, msgs) is invested in financial firms with strong brands like Wells Fargo (WFC, news, msgs) and Bank of America … (4 comments)
realtysouth: The Mortgage Market and Real Estate
- 08/21/07 04:53 AM
As you know, much of the news lately has been focused on the woes of mortgage lenders around the country. American Home Mortgage Investment Corp., the nation's 10th largest residential lender, has filed for bankruptcy... Countrywide is shifting its mortgage loan production into its banking division... First Magnus is no longer funding mortgage loans. The list goes on and on.
What's the Problem? The problem lies in the secondary markets, where loans are often sold after closing. Because of the instability there, investros are less willing now to fund loans that are not eligible for delivery to Fannie Mae and Freddie Mac. … (0 comments)
Countrywide Financial (CFC, news, msgs)may be getting a big-name backer. Investment guru Warren Buffett could be interested in buying parts of the troubled mortgage lender, which has suffered immensely in the market's recent turmoil, The Wall Street Journal is reporting. 
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