Countrywide reports another rise in overdue loans. The Calabasas, California company was the nation's largest home-mortgage lender in terms of loan volume for the first nine months of last year. Shares of the company fell to $5.12, their lowest close since May 1996.
In a monthly update, Countrywide said payments in December were overdue on 7% of the total loans it services, up from 5% a year ago, and 6.3% in November. Foreclosures were pending on 1% of all loans serviced, up from 0.65% a year earlier.
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