The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Smiling Bob who wrote (120353)	5/2/2008 4:35:03 PM
From: Jim McMannis	Read Replies (2) of 306849

LOL Oh really now... ------------------ Countrywide said junk rating would hobble business. news.yahoo.com Even as it prepares to be acquired by Bank of America Corp (BAC.N), Countrywide Financial Corp's (CFC.N) descent to a "junk" credit rating could hinder its ability to make loans and collect deposits, the mortgage company has warned. The largest U.S. independent mortgage company faces some significant obstacles now that Standard & Poor's on Friday cut its credit rating to below investment grade, according to Countrywide's annual report filed with the Securities and Exchange Commission on February 29.

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