Consumers could bear psychological brunt of Countrywide fallout - MarketWatch

Consumers could bear psychological brunt of Countrywide fallout - MarketWatch: "Mortgage group says psychological effect alone could sink consumers By Amy Hoak, MarketWatch Last Update: 5:43 PM ET Aug 16, 2007 PrintPrint EmailE-mail Subscribe to RSSSubscribe to RSS DisableDisable Live Quotes CHICAGO (MarketWatch) -- There's more at stake in Countrywide's health than the future of the company -- if it isn't able to keep making loans, the psychological impact of the loss would be felt directly by consumers, participants in a California Association of Mortgage Brokers news conference said on Thursday. 'The consumer will feel that there is no loan availability if companies like Countrywide can't keep their doors open. This isn't some small company that decided to start up yesterday that had a risky business plan. This is America's leading lender,' said Ed Craine, the public relations chairman of the group. 'The credit crunch is working its way through the whole market, taking companies we've see"