Keith Gregory

Bank of America Invests $2B in Countrywide: Who Wins?

The problem with looking at the $2B as a credit card is that it isn't - its capital & CFC has income from all their other business- such as servicing and subservicing loans

Also- there is now a lot less competition out there- so if Countrywide can originate and fund loans, they will be able to push their margins up on everything.

See Alt A fall out here:

www.mortgageindustrytr...