BofA Needs To Rework Countrywide Deal

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BofA Needs To Rework Countrywide Deal

Source: TheStreet
URL: http://www.thestreet.com/story/10416099/1/bofa-needs-~

Recommend this article Recommend it Consensus is building among analysts that Bank of America BAC will have to lower its offer price for troubled mortgage lender Countrywide Financial CFC or pull out of the pending deal altogether. Countrywide shares have taken a beating this week, after Friedman, Billings, Ramsey analyst Paul Miller on Monday wrote that BofA should "walk away" or at least renegotiate the $4.1 billion deal after Standard & Poor's downgraded the lender's debt to junk. BofA itself already..

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