BNET Industries
Countrywide Financial Corp. (CFC) is in the Financial Services Industry
- Revenue
- Dec 31 2007
- $21.0B
- Profit
- Dec 31 2007
- ($703.5M)
- Market Cap
- Jun 30 2008
- $2.4B
Latest News and Analysis
Bank of America Profit Falls 41 Percent But Tops Views
By Jonathan Stempel NEW YORK (Reuters) - Bank of America Corp reported quarterly profit on Monday that fell less than expected on record revenue, boosting shares of the largest U.S. retail bank and mortgage lender despite a surge in bad loans. The bank...
Wachovia Halts Wholesale Mortgages; Bank of America Won't Guarantee Countryside Debt
Michael Shedlock submits: There are two important financial headlines this evening and the futures are solidly red. Let's take a look at news regarding Wachovia and Bank of America starting with the former.Wachovia Halts Wholesale Mortgages by Michael Shedlock
FBI Mortgage Probe Expands to 21 Firms From 19
WASHINGTON (Reuters) - The FBI's investigation into potential corporate fraud in the U.S. home mortgage industry now encompasses 21 companies, up from 19 reported in April, a bureau spokesman said on Wednesday. "It's up to 21 now," FBI spokesman Jason Pack said. He...
Bank of America CEO: Recession "feel" May Last Year
By Jonathan Stempel NEW YORK (Reuters) - Bank of America Corp BAC Chief Executive Kenneth Lewis has offered a gloomy outlook for U.S. consumer and business sentiment, saying some people may feel as if the economy is in recession for the next year....
BofA May Assume All Countrywide Debt: CreditSights
NEW YORK (Reuters) - Bank of America Corp BAC is primed to assume all debt of the former Countrywide Financial Corp, independent research firm CreditSights Inc said, a move that would alleviate worries of Countrywide bondholders. CreditSights analyst David Hendler issued his assessment...
Countrywide Workers Worried About Severance: Report
(Reuters) - Workers at Countrywide Financial Corp are worried that new owners Bank of America Corp BAC will force them into a position that will cause them to lose their severance benefits, the New York Post reported. The "Countrywide Change of Control Severance...
BofA Left to Clean Up Countrywide's Mess
Markham Lee submits: Wachovia WB effectively threw in the towel yesterday with respect to making a return on their purchase of Golden West when they decided to stop offering option-ARMs. When you consider the fact that Countrywide CFC has even larger numbers of exotic mortgages on its balance sheet not...
Florida Sues Countrywide Over Mortgages
By Jim Loney MIAMI (Reuters) - Florida sued mortgage lender Countrywide Financial Corp CFC on Monday for predatory lending practices, alleging the company at the center of the U.S. mortgage crisis made subprime loans to people who could not repay them....
Bond Market Skepticism: Lehman et al.
John Jansen submits: Lehman LEH stock has declined by about 10 percent (as of this writing at 255PM New York time). The firm has been the subject of several rumors. One rumor suggests that they will announce additional large writedowns in their mortgage book. A separate rumor had senior...
Massive Government and Private Sector Job Cuts Coming
Michael Shedlock submits: CNN Money is reporting State, city layoffs: 45,000 and counting. With falling revenue from sales and income taxes, and property-tax declines looming, states, cities and towns have already laid off tens of thousands of government employees. The American Federation of State, County and Municipal Employees, a public...
The Bank of America Bug
Brian A. Davis submits: My first position in Bank of America BAC was a 1/30 P on 6/4. Since then, I added a second position of 1/27.50s on 6/12. This week I added a third position of 1/22.50s on 6/24. Everything I have read, and the credit climate I...
Bank of America to Cut 7,500 Jobs Post-merger
BANGALORE (Reuters) - Bank of America Corp BAC on Thursday said it expects to eliminate about 7,500 jobs over the next two years after it completes its acquisition of Countrywide Financial Corp CFC, the largest U.S. mortgage lender. The job cuts...
Countrywide: California Piles On
Felix Salmon submits: Well, that didn't take long. California attorney general Jerry Brown (yes, that Jerry Brown) has now joined Illinois in deciding to sue Countrywide. Brown's rhetorical powers have not deserted him: Countrywide exploited the American dream of homeownership and then sold its mortgages for huge profits...
Countrywide Sued For Unfair Lending; Buyout Approved
By Martha Graybow and Gina Keating NEW YORK/CALABASAS, California (Reuters) - Countrywide Financial Corp CFC, widely blamed for helping foment the U.S. housing crisis through free-wheeling lending, was sued for alleged deceptive mortgage practices by officials in its home state of...
Washington State to Discuss Countrywide Probe
NEW YORK (Reuters) - The governor of Washington state plans to hold a news conference on Wednesday to "address allegations of repeated discriminatory lending practices" by Countrywide Financial Corp CFC, the governor's office said in a press advisory. The alleged activity...
Illiinois - Countrywide: Potentially Devastating
Felix Salmon submits: I'm a huge fan of Tanta, but I think she's either being far too dismissive of Illinois attorney general Lisa Madigan's lawsuit against Countrywide, or else she's being faux-naive. This case is a very big deal for Angelo Mozilo, for Countrywide CFC, for Bank...
Calif AG Sues Countrywide Over Alleged Loan Scheme
By Gina Keating LOS ANGELES (Reuters) - California Attorney General Jerry Brown sued Countrywide Financial Corp CFC and two top officers on Wednesday to stop the mortgage loan company from allegedly perpetrating a scheme to "mass produce loans for sale on...
Countrywide Vote on Merger to End Mortgage Era
By Jonathan Stempel BANGALORE (Reuters) - Countrywide Financial Corp shareholders vote on Wednesday to approve the largest U.S. mortgage lender's purchase by Bank of America Corp, marking the demise of the company perhaps most closely associated with the nation's housing bubble...
Countrywide: Potential Short Squeeze in the Offing
H. Michael Arguello submits: Media reports that Bank of America BAC is targeting July 1, 2008 as the date for its acquisition of Countrywide Financial CFC have the potential to create a huge impact on the market if accurate. Reports that a letter sent to Countrywide branch managers specifying July...
BofA + Countrywide: Can Ken Lewis Rescue the Kobayashi Maru?
Christopher Whalen submits: "I don't believe in the no-win scenario." (Captain Kirk to Lt. Saavik, Star Trek II: The Wrath of Khan) by Christopher Whalen
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- Call Transcript (3 results)
- Incorporated: 1969
- CEO: Mr. Angelo R. Mozilo
Countrywide Financial is a holding company which, through its subsidiaries, is engaged in mortgage lending and other real estate finance-related businesses, including mortgage banking, banking and mortgage warehouse lending, dealing in securities and insurance underwriting. Co. manages its business through five business segments: Mortgage Banking, Banking, Capital Markets, Insurance and Global Operations. Co. produces residential and commercial mortgage loans within the Mortgage Banking, Banking and Capital Markets Segments. As of Dec 31 2007, Co. had total consolidated assets of approximately $211.73 billion.
Key Competitors
Countrywide Financial Corp. Company Info
Board of Directors
Mr. Angelo R. Mozilo
Chairman
Mr. David Sambol
Mr. Jeffrey M. Cunningham
Mr. Martin R. Melone
Mr. Robert T. Parry
Mr. Robert J. Donato
Mr. Oscar P. Robertson
Mr. Keith P. Russell
Mr. Harley W. Snyder
Contact Information
4500 Park Granada Boulevard
Calabasas, CA
818 225-3000
NAICS Code
Savings Institutions: 522120Brought to you by IBMSponsored Resources
