Mortgage lender Countrywide to cut as many as 12,000 jobs as loan originations slow

: Mortgage loaner Countrywide Financial Corp. said Friday it will cut down its work military unit over the adjacent three calendar months by 10,000 to 12,000 occupations as it fights to cover with ambitious statuses in the U.S. mortgage industry.

The company said the cuts, amounting to as much as 20 percentage of its workforce, are needed because it anticipates mortgage origins to fall about 25 percentage in 2008 from this year's levels.

"We are taking decisive action to guarantee that Countrywide goes on to be well-positioned for additional success," said Angelo Mozilo, president and CEO.