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Mortgage Pioneer David Loeb Dies.
David S. Loeb, the co-founder and former chairman of Countrywide Credit Industries Inc. (now Countrywide Financial Corp.) died on June 30 at his home here. He was 79.
Mr. Loeb, along with Angelo Mozilo, co-founded the Calabasas, Calif.-based mortgage banking powerhouse in 1969. From March of that year until February of 2000, Mr. Loeb was chairman and president of Countrywide.
In 1985, Mr. Loeb and Mr. Mozilo formed a second company, Countrywide Mortgage Investments Inc., a real estate investment trust. That company is now a thrift holding company called IndyMac Bancorp Inc., based in Pasadena, Calif.
Mr. Loeb served as IndyMac's chairman until his retirement from the post in February of this year due to health reasons.
A statement from Mr. Mozilo said, "I was 21 years old when I first met David in 1960 when our two companies merged. We worked together for more than four decades, including 30 years as co-founders and leaders of Countrywide, and I have always deeply respected David as a business partner, mentor and friend.
"He was a tough and brilliant business strategist who put ...
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