The company operates in four segments: Mortgage Banking, Banking, Capital Markets, and Insurance.
The Mortgage Banking segment originates, purchases, and services mortgage loans, primarily in the form of mortgage-backed securities, as well as provide various loan closing services, such as title, escrow, and appraisal.
The Banking segment primarily offers in mortgage loans and home equity lines of credit; deposit products; and other services, including safekeeping, review/certification, release requests, and customer reporting, as well as provides short-term secured financing to mortgage lenders.
The Capital Markets segment engages in trading and underwriting mortgage-related fixed-income securities, including mortgage-backed securities, collateralized mortgage obligations, and asset-backed securities; and callable debt, as well as trades securities issued by U.
S department of Treasury.
This segment also arranges short term financing and acts as a broker of residential mortgage loans.
The Insurance segment offers property, casualty, life, and credit insurance, as well as provides reinsurance coverage to primary mortgage insurers.
In addition, it provides mortgage loan application processing and servicing on behalf of a financial institution in the United Kingdom.
The company, formerly known as OLM Credit Industries, Inc., was founded in 1969 and changed its name to Countrywide Financial Corporation.
Countrywide Financial is headquartered in Calabasas, California.
