For the 2008, Bank out of The usa ordered the fresh new a deep failing Nationwide Financial to own $4.step one billion. For the 2006, Countrywide financed 20% of the many mortgage loans in the us, during the a worth of regarding 3.5% of All of us GDP, a proportion greater than any other single lending company.
Mortgage upkeep functions funds, we
Nationwide are situated during the 1969 from the David S. Loeb and you may Angelo Mozilo. Loeb died inside 2003. The initial personal offering are less than profitable, with providers stock trading over-the-counter at the lower than $step 1 for each and every share. Read more