Financial analysts are worried about Countrywide's credit situation. "We're in this situation where one of the biggest home lenders in the country is in significant financial difficulty and is being forced to take fairly extraordinary action to maintain it's financial viability," said Tony Hughes, managing director of credit risk for Moody's Economy.com. "This means the threat of a credit crunch is very real. It means that mortgage finance generally will be hard to come by."Read Full Story
Countrywide Financial is the nation's largest mortgage lender. Check out business news and breaking stories about Countrywide in the wake of the downturn in mortgage lending.