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WSJ: Countrywide Begins Layoffs 

Aug 20, 2007By

The Wall Street Journal is reporting today that Countrywide is beginning to reduce staffing in an effort to weather what now appears to be an extended downturn in the mortgage credit market: The layoffs occurred in the company’s Full Spectrum Lending unit, which handles many home mortgages in a category known as Alt-A, or mortgages between prime and subprime that often involve borrowers who don’t document their income …