Getting your player ready...
The leading mortgage lender and servicer said Tuesday that it lost $893 million during the first quarter because of a sharp increase in its provision to gird against unpaid home mortgage loans amid a deepening housing downturn.
Countrywide lost $1.60 a share for the quarter ended March 31 compared with earnings of $434 million, or 72 cents a share, in the same period a year earlier. Revenue plunged 72 percent to $679 million from $2.4 billion in the year-ago quarter. Analysts polled by Thomson Financial, on average, forecast earnings of 2 cents a share.
