Home Loan Countrywide

Home loan Countrywide has increased sub-prime funding (i.e., loaning money to more risky accounts). Although sub-prime mortgage rates are higher, so are the default rates. However, if the economy is entering a growth phase, lending to riskier groups should not be a short-term concern.

Countrywide's management seems to think its ahead of the curve. The company is looking to capitalize on the downward trend in the mortgage industry to its advantage by gobbling up smaller, down-and-out lenders when the going gets tough. According to a BusinessWeek article posted on Countrywide's website, the company wants to more than double its 13% share of the mortgage market.

Countrywide has warned it cannot sustain record profitability levels as interest rates rise from 45-year lows touched last summer. It has said its mortgage servicing business, which services loans by mailing out bills and collecting payments, should help shield it from declining loan demand.

Financial contracts are very confusing. Before signing yourself to a major long term commitment, have an attorney familiar with financing and taxes examine the documents and explain the details.

A good tax finance attorney can save you many times his fee over the years, not to mention possible legal problems.

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