Countrywide Sale Rumors Might Be Premature.(Countrywide Credit Industries)(Brief Article)(Statistical Data Included)

Early in the new year, rumors were flying anew that Countrywide Credit Industries here is either for sale or might be looking for a strategic partner, preferably a foreign bank.

Analyst Richard Eckert of Wedbush Morgan, Los Angeles, told Mortgage Servicing News that, "I have heard no substantial rumors" concerning Countrywide's future but he noted that Washington Mutual has become so large that some top-five mortgage firms might consider joining forces with Countrywide. Countrywide is the nation's fifth largest mortgage servicer.

Once WaMu finishes buying HomeSide, Jacksonville, and Dime Bancorp, New York, it will be the largest lender and servicer in the U.S., with market shares of 12.5% and 13.5%, respectively, according to figures compiled by this newspaper.

In other words, WaMu's dominance might push Wells Fargo Home Mortgage, Des Moines - which is clearly committed to the mortgage business - into making another run at Countrywide.

The top five lenders, based on third quarter volumes, are: Wells, Chase Manhattan Mortgage, WaMu, Countrywide, and ABN AMRO Mortgage.

Over the past two years, Countrywide's suitors have included not just Wells, but WaMu, and a few foreign banks, including Lloyds Bank ...