Bank of America's purchase of Countrywide

This article talks about conservative Bank of America purchasing Countrywide.

Really a great piece providing insight on Bank of America’s humble beginnings to their acquisition of Countrywide.

What most of the public doesn’t know about Countrywide is they are the largest mortgage servicer in the United States handling the billing and other administrative tasks for nearly $1.5 trillion in loans.  Countrywide still funds 1 of every 7 loans in the United States.

From early on this was a narcissistic business deal.  Bank of America getting into the mortgage servicing aspect; Countrywide looking for Bank of America’s creditworthiness and cash.

Many spectators around the world wonder how Ken Lewis, Bank of America’s CEO, will make this deal successful.

See below to read the complete story and form your own opinion.

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