Mortgage banking is dominated by big banks loaded with capital. But Angelo R. Mozilo's Countrywide Credit Industries, the only remaining large independent home lender, often beats the banks to the punch.

Mr. Mozilo, Countrywide's flashy vice chairman, said one of the company's main strengths is that it has no bank holding company to report to.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.