Not if you’re America’s largest mortgage lender it isn’t. Countrywide have just reported the worst operating loss for Q3 in it’s 38 year history. The whopping $1.2bn loss is the result of having had to sell on their mortgages at a discount and revalue some of their mortgage assets.

They are however looking to move back into profit in Q4 next year.

Trumpo continues to hope that all the banks and finance companies will get all the bad news out ASAP to allow things to get back on an even keel. The only positive to come out of this, and hopefully trigger a flicker of light at then end of a very dark tunnel, is that the financial analysts were expecting the loss to be nearly double at $2.4bn. Can things be getting better?

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