Get Rich City - Countrywide Financial

Countrywide Financial

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The Countrywide Financial Corporation (NYSE: CFC), known as Countrywide Credit Industries prior to November 7, 2002, is the largest independent residential mortgage lending firm in the United States. It writes, sells, and services mainly prime rate first mortgages for single-family homes through its Countrywide Home Loans subsidiary.

Among its subsidiaries are Countrywide Insurance Group (formerly known as Balboa Insurance Group, Inc.); Countrywide Securities Corporation (a [[broker-dealer); Countrywide Asset Management Corp.; and Global Home Loans, Ltd. The company's banking segment is Countrywide Bank (formerly known as Treasury Bank), National Association (NA), an FDIC-insured, federally-chartered bank.

The company's segments are mortgage banking, capital markets (mortgage-backed securities), insurance (homeowners', auto, life, disability, and reinsurance among others), banking, and global (a joint venture with Barclays to provide mortgage servicing in the United Kingdom).

2003 Financials

Loan production $435 billion

Segment
- Mortgage Banking: 398
- Capital Markets’ conduit acquisitions: 22
- Treasury Bank: 14
Product
- Prime: 397
- Prime Home Equity: 18
- Subprime: 20

Loan servicing ($ billion)

Beginning owned servicing portfolio: 441
Loan production: 435
Purchased MSRs: 7
Servicing Sold: (-)
Runoff: (253)
Ending owned servicing portfolio: 630
Subservicing portfolio: 14
Total servicing portfolio: 645

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