Countrywide Financial Corp, further leg down

--Defaults on so-called ``option ARM'' home loans made by Countrywide are running above industry norms, the Wall Street Journal reported. --An analysis carried out for the newspaper by UBS AG shows that 3.55 percent of the option ARMs Countrywide granted last year and then packaged into securities were at least 60 days overdue. The option-ARM delinquency rate for mortgage lenders as a whole is 2.56 percent, the newspaper said. --Countrywide fell 57 cents, or 3.8 percent, to $14.48