Countrywide Financial Corp. Tuesday afternoon denied rumors that the company is planning to file for bankruptcy protection. In a statement, it added: "We are not aware of any basis for the rumor that any of the major rating agencies are contemplating negative action relative to the company." The bankruptcy rumor began to circulate late Tuesday morning after the firm's share price fell more than 16% to a new 52-week low, $5.76. There was no major news on the company except for a New York Times report that cited allegations that a Countrywide employee may have recreated documents tied to a consumer's bankruptcy filing in Pennsylvania. A company spokesman said Countrywide, as a policy, does not fabricate documents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
9h ago -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
10h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
10h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
11h ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25