Countrywide late pay rate climbs, but stock gains ground
By Steve Gelsi
Last Update: 1:15 PM ET Mar 2, 2007
NEW YORK (MarketWatch) -- Countrywide Financial (CFC) shares rose 33 cents to $37.76 after the lender said the rate of payments at least 30 days late on prime home equity loans rose to 2.9% as of Dec. 31, up from 1.6% in the year-ago period. In a filing with regulators, the mortgage giant said Subprime mortgage loans were 19% late as of Dec. 31, up from 15.2% at the end of 2005. Shares are gaining back some of the ground lost in the past five days of trading, when the stock has fallen to below $38 from about $40. End of Story
By Steve Gelsi
Last Update: 1:15 PM ET Mar 2, 2007
NEW YORK (MarketWatch) -- Countrywide Financial (CFC) shares rose 33 cents to $37.76 after the lender said the rate of payments at least 30 days late on prime home equity loans rose to 2.9% as of Dec. 31, up from 1.6% in the year-ago period. In a filing with regulators, the mortgage giant said Subprime mortgage loans were 19% late as of Dec. 31, up from 15.2% at the end of 2005. Shares are gaining back some of the ground lost in the past five days of trading, when the stock has fallen to below $38 from about $40. End of Story