(Reuters) - Calabasas, California-based Countrywide makes roughly one in six U.S. mortgage loans. It has long said it expects to add market share as the housing slump and a growing inability among homeowners to keep up with payments cause weaker rivals to fold or lend less.
"The housing market continues to soften, and delinquencies and defaults continue to rise," Chief Operating Officer David Sambol said in a statement. "Interest rates, price competition in the residential lending markets and secondary market volatility have all increased."
Read more at Reuters.com Economic News
"The housing market continues to soften, and delinquencies and defaults continue to rise," Chief Operating Officer David Sambol said in a statement. "Interest rates, price competition in the residential lending markets and secondary market volatility have all increased."
Read more at Reuters.com Economic News
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