CFC Still Top Lender in Nation NMN Survey Finds

Despite its financial problems, Countrywide Financial Corp. ranked first among all residential originators in the first quarter, funding $73 billion in home mortgages, according to exclusive survey figures compiled by National Mortgage News. Wells Fargo Bank ranked a close second with fundings of $65 billion. Meanwhile, CFC will hold a special meeting of shareholders on June 25 to vote on the sale of the company to financial services giant Bank of America. In January, BoA offered $7 a share for CFC. Over the past week its share price has fluctuated between $4.50 and $5.50. On Wednesday, BoA named Barbara Desoer, its chief technology and operations officer, to head the combined mortgage operations of the two. David Sambol, the Countrywide executive anointed by BoA in January to manage the combined mortgage operations, abruptly announced his retirement on Wednesday.