Delinquency rate up on some Countrywide loans
From Bloomberg News
Countrywide Financial Corp., the biggest U.S. mortgage lender, said payments were late on almost 20% of the sub-prime loans it manages for clients.
Delinquencies of 30 days or more on “nonprime” loans, or those to borrowers whose credit ratings fell short of the highest criteria, widened to 19% as of Dec. 31 from 15% a year earlier, Countrywide said.
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