Mortgage and Housing Layoffs

Countrywide Considering Layoffs of 10,000 

Per National Mortgage News, Countrywide Financial is considering a move that would literally shake the mortgage and financial markets — a layoff of 7,000 to 10,000 workers. Such a move would be the largest mass layoff in mortgage industry history outside of a bankruptcy filing, the publication reported. Countrywide currently employs roughly 60,000. NMN also reported that the company is preparing to take a multimillion-dollar writedown on its held-for-sale portfolio, citing unidentified sources.