Home Mortgage Aid

Countrywide continues to offer mortgages, although it seems they are exiting the subprime area. For a company almost given up for dead a few weeks ago, they seem to be emerging from their darkest hour. Having already started the painful downsizing of lay-offs and more stringent loan requirements, they also now have a major financier in Bank of America (and Warren Buffett, if you consider that he recently purchased a large stake in the bank). Their stock price bottomed out around $15 and now trades around $19. Where they go from here is anyone’s guess, but it’s quite possible they have seen the worst of it.

Countrywide