CALABASAS, Calif. Countrywide Home Loans announced Monday that it had hired Debbie Rosen, a former Associates First Capital Corp. executive, to head B/C Lending Group, the subprime unit of its wholesale lending division.
The move significantly furthers the Countrywide Credit Industries Inc. divisions commitment to reaching a dominant position in the wholesale subprime lending market, the company said.
Ms. Rosen was given the title of executive vice president of subprime lending. She has more than 20 years of financial services experience. She was the president of home equity services at Associates, one of the countrys largest subprime lenders, until Citigroup Inc. acquired it in November.
Todd Dal Porto, the managing director of the Countrywide Home Loans wholesale division, said in a press statement that the six-year-old subprime unit has been successful in building a market share. However, we recognize that it will take the full-time focus of experts in this niche to carry us to the top, he said.