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Countrywide Concerns Mount

Stock quotes in this article: CFC , MBI , ETFC  

Countrywide Financial(CFC Quote) shares plunged for the second day in a row, after foreclosures more than doubled last month and concerns were raised about the beset mortgage lender's capital adequacy.

Foreclosures in December more than doubled to 1.44% on the more than 9 million loans it services compared to a year earlier, according to Countrywide's monthly operational results.

Delinquencies as a percentage of unpaid principal balance rose to 7.2%, up nearly 3 percentage points, it said. ...

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