Countrywide Tries to Reassure Investors

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Countrywide Financial Corp. said Monday it has access to $46.2 billion in cash, credit lines and other investments, a move aimed at reassuring nervous investors the nation’s biggest mortgage lender can weather a market downturn, the Associated Press reports.


The Calabasas-based company made the disclosure in a filing with the Securities and Exchange Commission on the same day American Home Mortgage Investment Corp., the nation’s 10th largest home lender, filed for bankruptcy protection.

Last week, Countrywide issued a statement indicating it had access to “nearly $50 billion” through short-term borrowing arrangements. The lender on Monday said it has $46.2 billion in “highly reliable short-term funding liquidity.”


The company did not immediately respond to a request to explain the discrepancy in the numbers.


Shares of Countrywide Financial climbed $1.75, or 7 percent, to finish at $26.75.


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