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Encyclopedia > Countrywide Financial Corporation


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. To suggest a relevant news story for the main page, refer to the criteria then add your suggestion at the candidates page. ... New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) , also nicknamed the Big Board, is by far the largest stock exchange in the world (by dollar volume) and second largest by number of listings. ... November 7 is the 311th day of the year (312th in leap years) in the Gregorian Calendar, with 54 days remaining. ... For the Cusco album, see 2002 (album). ... A mortgage is a method of using property as security for the payment of a debt. ... In North American banking, the prime rate is the interest rate charged by lenders to borrowers who they consider most creditworthy. ...


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. A National Association is a national bank; the name is a required part of the distinguishing legal title of a national bank, as in Bank of America, N.A. See also National Association of Professional Baseball Players ... The Federal Deposit Insurance Corporation (FDIC) was created by the Glass-Steagall Act of 1933. ...


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). A mortgage-backed security (MBS) is similar to a bond whose cash flows are backed by mortgage payments. ... Barclays Bank headquarters One Churchill Place, Canary Wharf Barclays plc (LSE: BARC, NYSE: BCS, TYO: 8642 ) is the fourth largest bank in the United Kingdom. ...

Contents


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

Conference calls

  • 11/3/2004 - Q3 2004 Earnings Conference Call (presentation) (audio)

External links

Data


  Results from FactBites:
 
Countrywide Field Services Corporation (3573 words)
Countrywide Financial Corporation, a trusted leader for over 30 years in the home loan industry, offers a wide range of financial products and services through our family of companies.
Countrywide works in concert with industry groups in developing legislation, policies and practices to fight identity theft and other crimes in the businesses we operate in.
Countrywide also works with these industry groups in the establishment and adherence to security and customer authentication programs to ensure that we remain an industry leader in protecting your identity and assets held with us.
Countrywide Financial Corporation - Mortgage Lender - Profile (4063 words)
Countrywide Financial Corporation is a diversified financial services holding company engaged primarily in residential mortgage banking and related businesses.
Compared with Countrywide, the other industry leaders are less reliant on the secondary mortgage market as an outlet for adjustable-rate mortgages because they have a greater capacity to hold such mortgages in their loan portfolio.
Corporation is a registered broker-dealer and a member of the National Association of Securities Dealers, Inc. and the Securities Investor Protection Corporation.
  More results at FactBites »


 
 

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