Countrywide Loan Fundings Fall;Lender Lines Up $12 Billion Credit

"Countrywide's shares jumped by 9% on Thursday morning, after the Calabasas, Calif., lender said it has taken "decisive steps" to adjust to the "turbulent conditions" in the markets, where rising home-loan defaults have unsettled investors worldwide and severely limited financing for mortgage companies. It recently arranged for $12 billion in additional secured borrowing through new or existing credit lines, the company said, following its move in early August to borrow $11.5 billion,.."