gridflash

Why Countrywide is Done

Well, BOA didn't buy into Countrywide without a plan, and the includes BK. Countrywide has a large distribution channel that BOA could use for it's growing inventory of foreclosures. That $2B buys them a seat at the BK table to negotiate for control of that infrastructure.

Countrywide Jumps on New Financing

Shouldn't we be getting details on the additional financing?
Like the source or the terms?

If the terms were favorable I'm sure they would have been happy to disclose them.