In a strange and uncommon posture, Countrywide Financial declined to comment late Tuesday on published reports that said it is working on a “strategic investment” with a possible suitor.
The company said, “Regarding media reports today about Countrywide Financial Corporation, it is the company’s policy not to comment on market rumors.” A few weeks ago, Bank of America invested $2 billion in CFC, bolstering its liquidity.
Countrywide said it has already taken “decisive steps to address the challenges arising in this environment and thereby enable Countrywide to meet its funding needs and position the company for continued growth and success.”
Meanwhile, according to new filings with the Securities and Exchange Commission, three different financial institutions recently slashed their ownership stakes in Countrywide. The three include: AXA Financial, Barclays Global Investors NA, and Legg Mason Capital Management. Until recently, the three were the largest institutional investors in CFC.
Tags: Bank Of America, Countrywide Financial, Mortgage News
