Mortgage lender Countrywide begins lay-offs: report: Financial News - Yahoo! Finance

Mortgage lender Countrywide begins lay-offs: report: Financial News - Yahoo! Finance: "Reuters Mortgage lender Countrywide begins lay-offs: report Monday August 20, 3:23 am ET NEW YORK (Reuters) - Countrywide Financial Corp, which is trimming costs amid turbulent credit markets, began laying off staff involved in originating loans, according to a report on Monday in the Wall Street Journal's online edition, citing an internal e-mail. The job cuts occurred in the company's Full Spectrum lending unit, according to the Journal, which handles many home mortgages known as 'Alt-A,' or loans rated between prime and subprime and generally given to borrowers who do not provide documentation of income."