Is Countrywide collapsing?
Uncategorized November 20th, 2007
It certainly looks that way. According to AP
Shares of Countrywide Financial Corp., the nation’s largest mortgage lender, sank more than 14 percent Tuesday amid concerns that troubles at government-backed mortgage banks could squeeze mortgage lenders’ access to funding.
The company’s shares fell $1.50, or 14.2 percent, to $9.07 in afternoon trading. At one point, the stock had dropped to a low of $8.21. Over the past 52 weeks, the stock price has ranged between $10.25 and $45.26.
