Seen through this lens, it's more apparent why the credit crisis touched certain mortgage lenders this week; Countrywide Financial, the country's largest lender and a big player in nonconforming loans, became the center of attention when a Merrill Lynch analyst speculated that the company could go bankrupt as a result of the credit crunch. Countrywide's stock took a beating, but was recovering somewhat on Friday after the company addressed those concerns. Similar tales could be found at other players where questions arose about their holdings and/or their access to funding.
Pacific Servicing - Temecula, CA
Yeah! 780 FICO 90% LTV is now considered ALT A... the market will suffer greatly as these lenders now give 9% rates at par! Ridiculous!
Aug 22, 2007 08:21 AM
Rainmaker
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42,571
Jeff Schraeder
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