UPDATE 5-Countrywide profit down 33 pct, slashes outlook

(Reuters) - NEW YORK, July 24 - Countrywide Financial Corp , the largest U.S. mortgage lender, on Tuesday reported a 33 percent decline in second-quarter profit and slashed its full-year earnings forecast, citing a difficult housing market.



Shares of Countrywide fell 8.7 percent in pre-market electronic trading.


Read more at Reuters.com Market News

RPT-UPDATE 1-Subprime guidance seen 'largely intact'-FDIC's Bair

(Reuters) - The FDIC is one of five regulators that have proposed
subprime mortgage underwriting guidance in an effort to stave
off risks to consumers and the U.S. banking system. The
guidance is opposed by Countrywide Financial Corp. ,
which has said it will prevent credit-worthy borrowers from
obtaining a loan.




"Our draft will be largely intact when we finalize it," she
said, addressing the annual meeting of the American
Securitization Forum in New York. The guidance "is simple
common sense," she said.


Read more at Reuters.com Government Filings News