Countrywide fuses 3 units

August 27, 2002

Management group coordinates correspondent lending, loan closing and warehouse financing services


Inman News Features

Financial business partners of Countrywide can now utilize a menu of products and services in one unified interface.

Countrywide today announced the formation of a new senior management group that brings together three units under one management umbrella.

The new entity, Institutional Mortgage Services Group, will provide coordinated services and product packages to Countrywide's institutional business partners, including banks, credit unions and other financial companies, according to Countrywide.

The management group consists of the Correspondent Lending Division of Countrywide Home Loans Inc., closing services provider LandSafe Inc. and Countrywide Warehouse Lending Inc.

"IMSG will manage and coordinate the activities of these three business lines, offering Countrywide's institutional business partners a comprehensive menu of products and services including correspondent lending, loan closing services and inventory financing through one unified interface," said Stan Kurland, Countrywide's executive managing director and COO.

Doug Jones, managing director of the company's Correspondent Lending Division, will serve as IMSG's president.

Countrywide Credit Industries Inc. (NYSE: CCR) provides mortgage banking and diversified financial services in domestic and international markets. Mortgage banking businesses include loan production and servicing primarily through Countrywide Home Loans Inc., which originates, purchases, securitizes, sells, and services prime-quality loans.

Copyright: Inman News Service


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro is the nation's leading provider of closing and title software, consistently pushing the technological envelope to pioneer the most powerful and comprehensive closing and title automation software on the market. SoftPro's Award-Winning Software combines cutting-edge technology with outstanding support to make your business more productive, efficient and boost your revenue. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.