"The net loss for the quarter totaled $421.9 million, or 79 cents per share, compared with a profit of $621.6 million, or $1.01 per share, a year earlier. On Oct. 26, Countrywide projected a quarterly profit of 25 cents to 75 cents per share. Analysts on average had expected a loss of 32 cents per share, according to Reuters Estimates."
Hope nobody bought it.
My opinion: meltdown isn't over just yet. Reset your loans while Bernake tries to get rates down low enough that enough people can refi those 2 year ARMs.