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BofA May Buy Ailing Countrywide

Talks between bank and troubled mortgage giant well advanced

By Caroline Zimmerman, Newser User

Posted Jan 10, 2008 3:21 PM CST

(Newser) – Bank of America is in advanced talks to buy troubled Countrywide, the Wall Street Journal reports. The Charlotte-based bank could be on the brink of acquiring the US' largest mortgage lender, whose market value has plummeted to $3 billion—about 2 months' profit for BofA—... Read full story »

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BofA May Buy Ailing Countrywide

Talks between bank and troubled mortgage giant well advanced

Bank of America • bankruptcy • subprime mortgages • LaSalle Bank • Countrywide

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More Newser Stories

Bank of America Bails Out Countrywide

Lender avoids disaster as bank buys $2 billion in cut-rate shares

Loan Giant Downgraded to 'Sell,' Faces Bankruptcy

Top US mortgage lender caught in the squeeze

This Woman's Job: to Make You Like BofA

Anne Finucane juggles politicians, shareholders, and customers

BofA Pays $335M to Settle Claims Over Minority Loans

It's the largest fair-lending settlement in history

Perry Gave Huge Tax Grants to Subprime Lenders

Countrywide, WaMu got $35M as they upped risky loans

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