Thursday, April 12, 2007

Countrywide mortgages in foreclosure nearly double

(Reuters) - NEW YORK, April 12 - Countrywide Financial Corp. , the largest U.S. mortgage lender, said on Thursday the amount of mortgages in its portfolio that are in foreclosure nearly doubled, amid a difficult U.S. housing market.

The Calabasas, California-based company said the rate of pending foreclosures, as a percentage of unpaid principal balances, rose to 0.83 percent in March from 0.44 percent a year earlier and 0.80 percent in February.


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