Countrywide Affirms Guidance
Countrywide Financial Corp. has reaffirmed its 2006 earnings guidance, which was provided back in April, reiterating a range of $3.90 to $4.80 per diluted share.
Countrywide, the nation's largest mortgage servicer, said its earnings guidance reflects an anticipated mortgage origination volume of $2.2 trillion to $2.9 trillion for the industry. That trims the high end of its origination projection from a previous estimate of $2.2 trillion to $3 trillion.
Presenting at a Sanford C. Bernstein & Co. investor meeting in New York, Countrywide chairman and CEO Angelo Mozilo reiterated the company's largely positive outlook, saying that while the housing market "is cooling" the economy remains strong. (c) 2006 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com http://www.sourcemedia.com