AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Countrywide CEO Expects Higher Servicing Profits.
New York -- Countrywide Financial Corp. CEO Angelo Mozilo has a long history of setting ambitious goals - and usually meeting them.
Speaking at a Piper Jaffray Financial Services Conference here last week, Mr. Mozilo said that Countrywide expects to achieve about a 30% lending market share, and he believes this is what it will take to be the dominant player in the industry. And he said's Countrywide's portfolio of mortgage servicing rights - the largest in the industry - is poised to produce growing profits.
Mr. Mozilo cited research showing that the dominant companies in mature industries almost always control between 25% and 35% of their market. And he believes that the mortgage industry in the coming years will approach that maturity as an industry.
He said Countrywide needs "about 30% to dominate."
He said Countrywide believes it can achieve that goal through organic growth. Countrywide has no current plans to acquire other companies or raise additional capital to reach its targets, he said.
In 2004, Countrywide originated $363 billion of mortgage ...
- Mozilo: MSR Growth Key to Profitability.(Angelo Mozilo, Countrywide Credit...
- Magazine article from: Mortgage Servicing News Cornwell, Ted July 1, 2006 700+ words
...Mozilo made it clear that Countrywide hopes to continue picking up market share primarily through organic...conference. Currently, Countrywide's servicing market share stands at about 12%. Countrywide believes that over time...
- Mozilo: Countrywide Will Reclaim Top Lending Market Share by 2008.
- Magazine article from: National Mortgage News Brunstein, Joshua September 22, 2003 700+ words
...dominant players. I know Countrywide will be one of them. I...other two will be." If Countrywide is going to be in a position...it will have to gain 30% market share. He predicted that Countrywide would be halfway to this...
- Countrywide slump.(News of the Week)(Countrywide Financial Corp. growth in the...
- Magazine article from: Los Angeles Business Journal November 19, 2007 700+ words
...worth nearly $34 million, in troubled mortgage lender Countrywide Financial Corp. This announcement came just one day after...with $61 billion a year ago. However, total fundings for Countrywide were up 4 percent from September. Subprime loans accounted...
- Who's who in wholesale 2005: countrywide once again emerged as the top firm out...
- Magazine article from: Mortgage Banking LaMalfa, Tom August 1, 2006 700+ words
...result of this is that the data contained herein are a hodgepodge of what is being submitted for the survey. For example, Countrywide Financial Corporation (Calabasas, California) includes all of its production--prime, alt-A, subprime and home...
- Countrywide's Ambitions Grow.
- Magazine article from: National Mortgage News Cornwell, Ted March 27, 2006 700+ words
...five years, Countrywide's gain in market share accounts for...servicing arena, Countrywide's growth...72% of the market share gain achieved...He said Countrywide benefits from...origination market share that somewhat...
- Countrywide Wants Servicing Share To Lag Behind Its Origination Volume.
- Magazine article from: Mortgage Servicing News Cornwell, Ted May 1, 2006 700+ words
...five years, Countrywide's gain in market share accounts for...servicing arena, Countrywide's growth...72% of the market share gain achieved...He said Countrywide benefits from...origination market share that somewhat...
- Countrywide to Hold Investor Forum Today.
- Press release article from: PR Newswire May 24, 2005 700+ words
...servicing market share to exceed...trillion * Countrywide Bank assets...billion "Countrywide continues...origination market share reaching...contemplates Countrywide remaining...origination market share, and it...
- Countrywide hoping woes are temporary.(Countrywide Financial Corp)
- Magazine article from: Los Angeles Business Journal Berry, Kate August 14, 2006 700+ words
...sell themselves, and Countrywide will grow market share through acquisitions. The question now is whether Countrywide can bounce back from a...in the United States, Countrywide's market share has jumped dramatically...
Source: HighBeam Research, Countrywide CEO Expects Higher Servicing Profits.