Countrywide Financial Corp has declined to comment on an online report from The New York Post that it was working on a strategic investment similar to a deal it struck with Bank of America Corp. Just last month, Countrywide reached a deal with Bank of America in which it received a $2 billion injection.

In a statement issued on Tuesday 11 September, Countrywide said: "Regarding media reports about Countrywide Financial Corporation, it is the company''s policy not to comment on market rumours."

Reiterating its earlier statements regarding cash and liquidity needs, the company said it had "already taken decisive steps to address the challenges arising in this environment and thereby enabled Countrywide to meet its funding needs and position the company for continued growth and success".