Countrywide, GMAC post big losses on mortgages
(Reuters)
<p><img src="http://d.yimg.com/us.yimg.com/p/nm/20080429/2008_04_29t132010_450x296_us_countrywide_gmac.jpg?x=130&y=85&q=85&sig=4xwtYYk6Sr6h5FJiEpTzAA--" align="left" height="85" width="130" alt="A Countrywide branch in a file photo. Countrywide, the mortgage lender being acquired by Bank of America, on Tuesday posted a surprisingly large $893.1 million first-quarter loss, as it took more than $3 billion of charges for write-downs and bad loans. (Rick Wilking/Reuters)" border="0" /> (http://us.rd.yahoo.com/dailynews/rss/business/*http://news.yahoo.com/s/nm/20080429/bs_nm/countrywide_gmac_dc)Reuters - Countrywide Financial Corp and
GMAC LLC, which run the largest independent U.S. mortgage
lenders, on Tuesday posted big first-quarter losses, hurt by
credit problems as the nation's housing slump deepens.</p><br clear="all"/>
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