Success of Countrywide Acquisition Still an Unknown

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MORTGAGE EXPERT
11 · 04 · 10

Most of the delinquent mortgages at Bank of America Home Loans were originated by Countrywide Financial Corp. — requiring the company to boost its default servicing force by 10,000 during the past two years. The unit has lost billions of dollars, and liability for litigation and repurchases remain. While it is still unclear whether the Countrywide acquisition was a success, the bank has not yet needed to write down its goodwill in the investment.

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