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Stanford Kurland

Mr. Kurland, president and chief operating officer of Countrywide Financial Corporation, is stepping down and will be replaced by David Sambol, currently an executive managing director at the company. Countrywide gave no reason for Mr. Kurland's sudden departure, though chairman Angelo Mozilo thanked Mr. Kurland for his long service to the company and praised Mr. Sambol as a "talented operations executive and entrepreneur" in a news release. Countrywide is currently the nation's second largest mortgage servicer, behind Wells Fargo.(c) 2006 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved.http://www.mortgageservicingnews.com http://www.sourcemedia.com

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