Countrywide Funding Corp. announced it has hired Andrew S. Bielanski to be managing director of marketing - responsible for advertising, direct marketing, product development, market research, and public relations.
Most recently, Mr. Bielanski had worked two years in the New York and Los Angeles offices of Lord, Dentsu & Partners, an advertising agency, as a managing director. Before that, he was regional managing director for DMB&B, where he opened up markets in Eastern Europe.
Countrywide has been without a retail marketing chief since Gerald Baker left in November to become president of Fleet Mortgage Group. Some investors had feared that the lag in replacing him signaled a move away from marketing.
"Andy's appointment underscores Countrywide's intensified marketing commitment," said president Stanford L. Kurland, "and we are very excited to have him on board."
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Meanwhile, the parent company, Countrywide Credit Industries Inc., announced that its servicing portfolio had grown 31% in the 12 months through April, to $119 billion. The portfolio had a weighted average coupon of 7.7% at April 30, compared with 7.2% at the end of April 1994.
"There were no bulk acquisitions during the month, since yields on portfolios available in the market were unattractive to the company," said David S. Loeb, chairman. "We continually evaluate potential bulk acquisitions and will make purchases as worthwhile opportunities arise."
Prepayments in Countrywide's portfolio remained low, amounting to $465 million during April, an annualized rate of less than 5%.
"Fundings remained steady in relation to the prior month, at $2.1 billion," the company said. "However, since April had three fewer working days, average daily fundings increased by 14% over March, to $105 million. Brisk production activity and healthy servicing dynamics combined with an improving competitive landscape should provide the company with substantial opportunities in fiscal 1996."
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Resource Bancshares Mortgage Group Inc., Columbia, S.C., announced the resignation of Christopher C. Bowen, executive vice president and chief financial officer, to pursue other interests.
Lee E. Shelton, vice chairman and managing director, will act as finance chief until the post is filled permanently, the company said.
