Countrywide consolidates 16 wholesale fulfillment centers

From Countrywide:

Dear Valued Business Partner:

Thank you once again for your valued business and continuing support of Countrywide®, America’s Wholesale Lender®. Despite the widespread change that our industry has faced over the past year, one thing remains constant – Countrywide’s commitment to providing responsible lending solutions to ensure that more Americans have the opportunity to achieve and preserve homeownership.

Optimizing Our Business Model

Consistent with modifications that we have made in the past to evolve the scale of our organization to the changing lending environment, we continue to focus on optimizing our business model for long-term success. As a result, we announced earlier today that we are adjusting our loan fulfillment operations as follows:

* Effective immediately, 16 of our loan fulfillment locations will be migrated into our remaining distributed fulfillment network comprised of 26 Wholesale Fulfillment Centers.
* Our Sales Management and Account Executives will continue to be located in the impacted markets to help ensure that we retain our local presence and uphold our commitment to serving our Business Partners and mutual borrowers within those markets.
* Dedicated fulfillment teams have been added to the remaining fulfillment center locations to provide immediate support for our Business Partners and Account Executives in the impacted markets.

It is important to note that many of our Business Partners will not be directly impacted by these changes. If you are impacted by this move, however, a follow-up communication will be sent to you shortly with detailed information on your new loan fulfillment location and team members. In addition, you may log on to cwbc.com to view a list of the impacted loan fulfillment sites along with the corresponding new fulfillment locations and contacts.

If you are currently served by one of our consolidating fulfillment locations, I assure you that we are taking measures to quickly and carefully migrate loan files in progress to your new loan fulfillment team. Your Account Executive and your new loan fulfillment team are standing by, ready to assist you with both existing and new loan submissions.

Committed to Your Success

The consolidation of these fulfillment locations enables us to better serve our Business Partners and mutual borrowers under a more efficient and sustainable loan fulfillment operating structure.

Though these changes are necessary to optimize our business model, I can assure you that they do not alter our focus on homeownership or our commitment to your success.

Thank you once again for choosing Countrywide.

Todd A. Dal Porto
Senior Managing Director and President

Countrywide, America’s Wholesale Lender

Source: By Blown Mortgage