Countrywide’s Optimism: Calling a Mortgage-Market Bottom

Not to say Countrywide CEO Angel Mozilo might not be right today in his upbeat fourth-quarter forecast for the mortgage market — if nothing else, the 20+% gain in his stock is something to behold — but I’m trying to keep track of how many times he has called a near-term bottom in the mortgage market. Anyone done a better job keeping track of that stat than I have?


  1. Mozillo has been making this prediction for months now. He did it back in March when the subprime debacle first occured, he did it again after Q2 results and more or less does it again whenever CFC’s stock takes a dive, bad housing data comes out, etc.
    It’s been at least ten times by my anecdotal recollection.
    He should call the “latest bottom” and then say: “For real this time”

  2. Nope! Not the bottom. Even in a great year, not much moves between now and early spring. They are at least one quarter out. To find out the real bottom, I would keep on eye on the Countrywide REO site.
    These are the Countrywide repos.