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Countrywide Activity Deteriorates

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07-21-2008, 03:53 PM

Veronica Corningstone Veronica Corningstone is offline

Corner Window Office

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Countrywide Activity Deteriorates

Residential originations at Countrywide Financial Corp. totaled $59.0 billion, according to second-quarter operating data. Fundings tumbled from the first quarter and were less than half the level a year earlier. Countrywide had a second-quarter pre-tax loss of $3.8 billion, more than double the loss in the first quarter.

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