Countrywide Financial

Countrywide Financial was a major American mortgage lender and bank, active primarily in the 1990s and 2000s. It specialized in home loans and played a significant role in the subprime mortgage market, which provided loans to borrowers with poor credit histories. This aggressive lending strategy contributed to the housing bubble and subsequent financial crisis of 2007-2008. Countrywide faced massive losses and legal issues due to widespread mortgage defaults, ultimately leading to its acquisition by Bank of America in 2008. Its collapse highlighted the risks of predatory lending practices and the importance of responsible mortgage underwriting.