The bank should walk away from the deal, an analyst says. BofA says the transaction will proceed. Countrywide Financial Corp. shares took a hit Monday after an analyst questioned the value and wisdom of Bank of America Corp.'s takeover of the Calabasas mortgage lender, but Bank of America insisted the deal would go through.

May 2 (Bloomberg) -- Bank of America Corp. , the second- biggest U.S. bank, said it may not guarantee $38.1 billion of Countrywide Financial Corp. 's debt after taking over the mortgage lender, increasing the likelihood of a default.

In a hearing about its plan to buy Countrywide, the company will promise to help 265,000 troubled borrowers keep their homes and take other steps. Pushing to fast-track its takeover of wounded home-loan goliath Countrywide Financial Corp., Bank of America Corp. will promise today to help 265,000 troubled borrowers keep their homes over the next two years by refinancing or modifying at least $40 billion in mortgages.

Angelo Mozilo, chief executive of Countrywide Financial Corp., earned $10.8 million and cashed out $121.5 million in stock gains as his company got hammered by losses on sub-prime loans last year.

Beleaguered Bank of America Corp. shareholders pleaded Wednesday with the bank's chief executive not to proceed with a $4 billion acquisition of distressed subprime mortgage lender Countrywide Financial Corp.

Beleaguered Bank of America Corp. shareholders pleaded Wednesday with the bank's chief executive not to proceed with a $4 billion acquisition of distressed subprime mortgage lender Countrywide Financial Corp. Shareholders told CEO Ken Lewis at the Charlotte-...

It says it won't offer 'option' adjustable-rate loans and will curtail nontraditional mortgages after it completes the purchase of Countrywide. Bank of America Corp. said Tuesday that it planned to stop offering some riskier mortgage loans after it finishes buying Countrywide Financial Corp., the largest U.S. mortgage lender.

(AP) — Bank of America Corp. said Tuesday it will tighten its mortgage lending standards after it completes its acquisition of Countrywide Financial Corp. later this year, and it will stop making one type of loan widely blamed for foreclosures. The Charlotte, N.C.-based bank's plans came as ...

A senator calls the payments to Angelo Mozilo and David Sambol 'perverse.' The top two executives of beleaguered Countrywide Financial Corp. will pocket $19 million in stock next week, according to a regulatory filing. It's the start of a series of multimillion-dollar payments expected to go to the pair before and after the company's pending takeover by Bank of America Corp.

The former president and chief operating officer of Countrywide Financial Corp. will run a new mortgage company unveiled Monday to acquire and restructure distressed mortgages.