Countrywide's Default Rate Doubled in January

April 2008
Mortgage Servicing News;Apr2008, Vol. 12 Issue 3, p16
The article reports that Countrywide Financial Corp. (CFC) almost doubled its foreclosure rate in January 2008 compared to that in January 2007 in Calabasas, California. It states that 1.48% of the company's loans in its massive $1.48 trillion servicing portfolio has entered the foreclosure process. Moreover, it is revealed that CFC funds $21.8 billion in residential loans in January 2008 which has a 41% decline from the same month of 2007.


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