The Real Estate Wonk: More lender losses - Baltimore homes, apartments, real estate: Buying, selling, renting and housing news from reporter Jamie Smith Hopkins

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October 26, 2007

More lender losses

Countrywide Financial Corp., which recently announced plans to help its adjustable-rate borrowers stave off disaster, said today "it swung to a loss of more than $1 billion in the third quarter," the AP reports.

It was the first quarterly loss for the lender in 25 years.
But the Calabasas, Calif.-based company said it will be profitable in the current quarter and in 2008, as it restructures its business to take advantage of the current market.

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About Jamie Smith Hopkins

Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
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