Countrywide lost $422 million, or 79 cents a share, during the fourth quarter, compared with earnings of $622 million, or $1.01 a share, during the same period the previous year.
Analysts polled by Thomson Financial, on average, forecast a loss of 30 cents A share for the quarter.
Countrywide on Oct. 26 projected a fourth-quarter profit of 25 cents to 75 cents a share. It had not updated that forecast even as the housing market deteriorated. The company’s $1.2 billion third-quarter loss had been its first quarterly loss in 25 years.