Today Countrywide (CFC) disclosed that their loan fundings declined by 17% in August. This came amidst a retrenching in its overall lending business, as they tightened standards and outlined plans to lay off 20% of its work force. However, as yet they have not apparently retrenched their internet advertising efforts.
Over the past few months, there have been rumblings on the internet that the subprime/lending/housing situation would eventually spill over into online advertising. August data still shows otherwise.
Notably, Countrywide's internet advertising spend for August still showed a consecutive month increase from $34.8 million to $35.4 million.
Subscribe to:
Post Comments (Atom)
1 comments:
Check out the recently updated www.eyeoncountrywide.info, an independent consumer resource examining sub-prime lending and Countrywide Financial Corporation
Post a Comment