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At Countrywide, Option ARM Woes Mount 

Aug 13, 2008By

In case you haven’t heard: option ARMs are a problem, and Countrywide holds ’em in spades. The Calabasas, Calif.-based lender’s latest 10-Q filing with the Securities and Exchange Commission underscores the pain that’s now flowing through the veins of Bank of America [stock BAC][/stock] (Countrywide filed a Q2 report because its acquisition wasn’t complete until July 1, for those curious to know).