Eric Spence has been named executive vice president of national production, prime lending, at Countrywide Financial Corp., Calabasas, Calif.Mr. Spence will be responsible for the production and market share growth of the Wholesale Lending Division, the company said. A 19-year veteran of the mortgage industry, Mr. Spence was most recently EVP for the western division of Countrywide's wholesale branch system. He was previously EVP of production at Washington Mutual. Mr. Spence was also senior vice president for WaMu's Wholesale Lending Division, and was SVP of wholesale lending for American Savings Bank before it was acquired by WaMu. "Eric's promotion brings greater collaboration and synchronization across the wholesale lending channel, with the West, Central, and East divisions now operating their sales efforts under the guidance of a single executive," said Brian Robinett, managing director of prime lending for Countrywide wholesale lending. Countrywide can be found online at http://www.countrywide.com.
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Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president's 2027 budget, telling the Senate Appropriations Committee that the program had pursued a "partisan wish list."
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