Sandler Suspends Coverage of Countrywide

Investment banker Sandler O'Neill has suspended coverage of Countrywide Financial Corp., a bellwether stock for the mortgage industry, citing a "change in research department personnel."Sandler analyst Mike McMahon has covered Countrywide -- the nation's largest mortgage banker -- for several years. He has consistently been bullish on CFC. Mr. McMahon could not be reached for comment as of MortgageWire's deadline. His phone at Sandler did not pick up. In addition to Countrywide, Sandler suspended coverage on 18 publicly traded financial institutions, most of which are community banks.