Financial Analysis And Assessment Of Countrywide Financial...

This paper intends to provide a financial analysis and assessment of Countrywide Financial Corporation. The financial evaluations are based on the numbers calculated from the data on Countrywide Financial Corporation’s Financial Performance Worksheets. This paper covers three areas. The first part of the paper contains a brief history of Countrywide and the position of the corporation in the market of real estate mortgage. The second part is a SWOT analysis of Countrywide s performance and the reasons for their success’s and failures. Finally, a recommendation for Countrywide Financial Corporation and a conclusion. According to Eastburn (2010), Countrywide Financial Corporation became a $400 billion home loan machine in 2006. By 2007, the company had 661 branches in 48 states. As the mortgage market boomed beginning in 2000, no company pursued growth in home loans more aggressively than Countrywide. Countrywide’s fall was as spectacular as its rise. After nearly collapsing into bankruptcy as their financing dried up, Bank of America acquired the company in 2008. When Bank of America took over the company in July 2008, Mr. Mozilo was allowed to retire. According to Fraser (2008), he took home a total compensation package of $48,133,155. Stated Strategies and Plans Angelo Mozilo, the founder and Chairman of Countrywide Financial Corporation, was the driving force behind the company’s zealous plan to become the largest real estate mortgage originator in the United States.Show MoreRelatedForensic Accounting1945 Words   |  8 Pagestheir columns. Fraud in the financial community is consistently hidden in style. Since its beginnings in the great depression, to now, the great recession fraud has undoubtedly taking many forms and styles. Subsequently, many non suspecting patrons have been severely damaged as result of this greed and corruption. 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