CALABASAS, Calif., Oct. 2 /PRNewswire-FirstCall/ -- Countrywide
Financial Corporation (NYSE: CFC), today announced that David Sambol,
President and Chief Operating Officer, has been appointed to its board of
directors.
"Mr. Sambol will make a tremendous contribution to our board," said
Harley Snyder, president of HSC, Inc. and Countrywide's lead director.
"Dave's proven leadership skill, comprehensive knowledge of the Company and
unparalleled expertise in all aspects of the mortgage industry will be
invaluable to the Board."
A 22-year veteran of Countrywide, Mr. Sambol was appointed President
and Chief Operating Officer in 2006. In addition to overseeing all
operations of the Company, Mr. Sambol's responsibilities currently include
leadership of corporate operational and support units. Mr. Sambol also
serves as a member of management's Executive Committee.
"Dave has been a driving force behind Countrywide's long-term growth
over the years," said Angelo R. Mozilo, Countrywide Chairman and Chief
Executive Officer. "He has demonstrated the many qualities required of a
world-class leader during challenging market conditions and he has proven
his ability to execute strategies that position us for future growth and
continued market leadership."
Mr. Sambol has been instrumental in building the Company's principal
mortgage originations and servicing operation. He also established
Countrywide Capital Markets, and served as its President and Chief
Executive Officer. Under his direction, CCM became one of the nation's
leading fixed-income securities firms.
Earlier in his tenure at Countrywide, Mr. Sambol served as Executive
Managing Director of Business Segment Operations, and has led all revenue
generating functions of the Company. He has also had oversight
responsibility for Countrywide Bank, Countrywide Insurance Group, and
Countrywide's Global Operations. Mr. Sambol began his career with the
Company as a director of internal audit. Prior to joining Countrywide, Mr.
Sambol served as a Certified Public Accountant with the accounting firm of
Ernst & Whinney.
About Countrywide
Founded in 1969, Countrywide Financial Corporation is a diversified
financial services provider and a member of the S&P 500, Forbes 2000 and
Fortune 500. Through its family of companies, Countrywide originates,
purchases, securitizes, sells, and services residential and commercial
loans; provides loan closing services such as credit reports, appraisals
and flood determinations; offers banking services which include depository
and home loan products; conducts fixed income securities underwriting and
trading activities; provides property, life and casualty insurance; and
manages a captive mortgage reinsurance company. For more information about
the Company, visit Countrywide's website at http://www.countrywide.com.
This Press Release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as amended,
regarding management's beliefs, estimates, projections, and assumptions
with respect to, among other things, the Company's future operations,
business plans and strategies, as well as industry and market conditions,
all of which are subject to change. Actual results and operations for any
future period may vary materially from those projected herein and from past
results discussed herein. Factors which could cause actual results to
differ materially from historical results or those anticipated include, but
are not limited to: increased cost of debt; reduced access to corporate
debt markets; unforeseen cash or capital requirements; a reduction in
secondary mortgage market investor demand; increased credit losses due to
downward trends in the economy and in the real estate market; increases in
the delinquency rates of borrowers; competitive and general economic
conditions in each of our business segments such as slower or negative home
price appreciation; changes in general business, economic, market and
political conditions in the United States and abroad from those expected;
reduction in government support of homeownership; the level and volatility
of interest rates; changes in interest rate paths; changes in debt ratings;
changes in generally accepted accounting principles or in the legal,
regulatory and legislative environments in which Countrywide operates; the
judgments and assumptions made by management regarding accounting estimates
and related matters; the ability of management to effectively implement the
Company's strategies; and other risks noted in documents filed by the
Company with the Securities and Exchange Commission from time to time.
Words like "believe," "expect," "anticipate," "promise," "plan," and other
expressions or words of similar meanings, as well as future or conditional
verbs such as "will," "would," "should," "could," or "may" are generally
intended to identify forward-looking statements. The Company undertakes no
obligation to publicly update or revise any forward-looking statements or
any other information contained herein.
SOURCE Countrywide Financial Corporation
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Related links:
http://www.countrywide.com
CONTACT:
media, Amber V. Cousins of Countrywide
Financial Corporation, 1-800-796-8448, pressroom@countrywide.com,
or investors, +1-818-225-3550
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