Countrywide May Have Appetite for Deals

Senior managing director Eric Sieracki of Countrywide Financial Corp. told investors Dec. 2 that his company may consider buying loan servicing portfolios and loan production platforms as the refinancing boom slows down.Speaking at a Friedman Billings Ramsey conference, Mr. Sieracki said Countrywide -- which has long heralded "organic growth" while shunning mergers and acquisitions -- may now be ready to be a buyer in the M&A market. As refinancing activity slows next year, Mr. Sieracki said "there probably will be some disadvantaged servicers out there looking to unload servicing." As long as there is not a price war, Countrywide may be a player in that market, he said. In addition, he said Countrywide's growing sales force, currently consisting of some 6,800 commission-paid personnel, makes it feasible for Countrywide to consider buying loan production platforms as well. The company, based in Calabasas, Calif., can be found online at http://www.countrywide.com.