Countrywide Financial Corporation, once the largest mortgage lender in the United States, suffered a catastrophic collapse during the onset of the subprime mortgage crisis due to a combination of aggressive lending practices, overexposure to risky loans, and a severe liquidity crunch. Driven by a relentless pursuit of mortgage volume and market share, Countrywide heavily originated and securitized high-risk subprime mortgages, adjustable-rate mortgages (ARMs), and option-adjustable loans with minimal underwriting standards or documentation. When housing markets peaked and default rates surged nationwide, investors fled mortgage-backed securities, causing Countrywide's funding lines to freeze entirely, leaving the institution insolvent and forcing a distressed emergency buyout by Bank of America.