Countrywide looks past more than a Billion dollar loss....

Despite more than a billion dollar loss ($1.2 Billion) in the 3^rd quarter, Countrywide Financial Corp, said it expects to be profitable in the 4^th quarter, and into 2008. Chairman and Chief Executive Angelo Mozilo said, "We continue to be bullish about the longterm prospects of both Countrywide and our industry." Countrywide shares jumped $4.23 on this news, to close at $17.30 on Friday after rising as high as $17.51. The stock is down 64 percent from its 52-week high of $45.26.

Considering how many Maui Realtors rely on Countrywide to fund real estate transactions, seeing Countrywide's position and confidence, is very encouraging.