Bloomberg Television announced this morning that shares of Countrywide are down 53 percent for the year. Countrywide is the biggest mortgage lender in the United States. After a 42 billion infusion by Bank of America some analysts expected Countrywide share to rebound. The company tried to reassure the general public that it was safe and sound, saying they had billions in liquidity.
While early reports from analysts were pretty much in agreement that Countrywide would not be forced into bankruptcy what happens to America’s biggest mortgage lender might be a bellweather.