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Housing Bubble

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Countrywide Feels Housing Market Pinch – Nearly 24 Percent of Subprime Loans Delinquent 

Jul 24, 2007By

Countrywide reported second quarter earnings today, showing a 33 percent drop in second quarter income versus year-ago levels. Second quarter earnings came in at $485 million, down from $722 million in the year-ago period, driven largely by loan loss provisions ($417 million) and impairment charges ($292.9 million).

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