Countrywide Financial Corp. announced today, September 25, 2007, that it would be altering the terms for 35,000 home loans this year to avert foreclosures. Changes include repayment plans, postponement of payments, refinancing and modifications that bring loans out of default, the company said in a statement.
Countrywide handled billing and collections for about 9 million [...]

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Today, August 3, 2007, Bloomberg reported that Countrywide Financial Corp.’s stock fell to 2004 levels and IndyMac Bancorp Inc. shares hit a four-year low as demand from investors who buy home loans dried up.
Rising defaults by borrowers with the worst credit histories have spread to people with more reliable records. That’s making investment banks that [...]

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