Countrywide Financial Corp., Calabasas, Calif., has announced the promotions of seven executives.David Sambol, a senior managing director and chief of production, was promoted to executive managing director for loan originations and capital markets. Ann McCallion, chief administrative officer, was promoted to senior managing director of operations. Tom Boone, a senior managing director and chief of global processing, was promoted to senior managing director and chief administrative officer. Richard DeLeo, a managing director of loan administration, was promoted to senior managing director of loan administration. Susan Bow, executive vice president and senior deputy general counsel, was promoted to managing director, general counsel of corporate and securities, and corporate secretary. John Ardy, executive vice president for performance management, was promoted to managing director for corporate operations management. And Mark Elbaum, an executive vice president, was promoted to managing director and chief financial officer for the mortgage production segment.
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The industry's biggest opportunities involve the evolving cost of capital, which will shift funding sources from the private, local lending markets to institutional sources.
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The average owner experienced a four-figure decline in the first quarter compared to the same period last year even though the negative equity share is low.
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The company also made several new executive appointments in 2025 as it aims to turn itself into a national one-stop shop with end-to-end home buying services.
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The transaction is the first in what is planned to be a continued series of purchases by the new fund as it continues to raise capital from investors.
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Secondary market interest in home equity contracts is drawing new participants, with 2025 securitization activity ahead of last year, industry leaders said.
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The House and Senate will need to resolve a slight difference between their versions of the bill before sending it to President Donald Trump for his signature.
June 13