Throughout the subprime lending crisis and as foreclosures across the country soar, few mortgage companies have taken heat like Countrywide. Arguably once the most powerful lender in the country, Countrywide has become a favorite of critics, teetered on the verge of bankruptcy and was eventually acquired by Bank of America.
No one can predict how long the country’s housing slump will continue. But one thing is certain: The way mortgage companies lend money to borrowers will never be the same.
It’s been a rough few months for Countrywide Financial Corp., one of the nation’s largest home lenders.
Individual homeowners aren’t the only ones suffering during the mortgage crisis. Some of the nation’s biggest mortgage lenders are feeling some pain, too.
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Written by Dan Rafter [email] for b5media.
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