![]()
MOST SHARED
- Stocks Overvalued, Recession Will Return: Meredith Whitney
- Has Twitter's Finest Hours (Seconds) Come and Gone?
- BofA Ex-Counsel: I Was 'Stunned' When I Got Fired
- U.S. May Wind Up Green With Envy
- Warren Buffett's Berkshire Hathaway Almost Doubles Wal-Mart Holdings During Summer
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- Solar Emerges From A Dark Period
- Time Warner to Spin Off AOL on December 9
- Stanford Receiver to Release Funds Of Frozen Acounts
- Millions May Have to Repay Part of Obama Tax Credit
- Stocks May Rise Further after Fed Waves on 'Risk Trade'
- Obama in China Grapples with Economic Strains
- Buffett's Berkshire Hathaway Boosts Stake in Wal-Mart
- Microsoft Co-founder Allen Diagnosed with Cancer
- Time Warner to Spin Off AOL on December 9
- Gates Boosts Waste Management, Coca Cola Stakes
- What's Kept Stock Rally Going? Fear, Not Confidence
- US Cities With Most Underwater Mortgages
- Citi Shares, A Strange Indicator Of Unemployment?
- Answers to Your Questions: A Path to Economic Disaster?
- 5 Ways to Play the Chinese Markets: Analyst
- Meredith Whitney: Turns Bearish
- 3 Stock Plays on Rising College Costs
- Warren Buffett's Berkshire Hathaway Almost Doubles Wal-Mart Holdings During Summer
- Nov. 16: Unusual Volume Leaders
- Getting to the Heart of the Merck-Abbott Embargo Break
- What MGM's Sale Could Say About Value of Content
- My Ratings on Lowe's & Home Depot: Analyst
Countrywide Financial, the largest U.S. mortgage lender, said its management believes the company has ample liquidity and capital.
In a statement, Countrywide said it had $35.4 billion in ''highly reliable liquidity'' available at Oct. 31, 2007, up from $33.6 billion available at September 2007.
Further, Countrywide said it "will be a beneficiary of ongoing mortgage market consolidation.''
Countrywide shares had plummeted as much as 22 percent Tuesday on speculation the mortgage lender was running short of cash. But the stock [CFC
Loading...
()
] recovered to finish 2.74 percent lower at $10.28.
Countrywide last month posted a $1.2 billion third-quarter loss but said it expected to be profitable in the fourth quarter and in 2008. The company has said it is cutting up to 12,000 jobs as it focuses on safer loans less likely to default.
The Calabasas, Calif.-based company has also shifted much of its lending to its banking unit, which it said is less reliant on capital markets for funding to conduct ordinary operations.
- Where, what, how.
- CNBC's Jim Goldman asks: Has the sun begun to set on Twitter? Data suggests its best days are over.
- Everyone wanted a piece of Madoff's "Bullship"--the famous buoy sold for $7,500 at auction. You won't believe these prices.
- De Loach Vineyards is selling its pinot noir the old fashioned way, helping to cut energy and transportation costs.
- Why are the Chinese concerned about the progress of U.S. health care legislation?
- CNBC's Maria Bartiromo talks to rapper Snoop Dogg about brand identity in both business and music.












