# Countrywide Financial

> Legal entity — legal form HZEH, registered in US-DE

**Wikidata**: [Q100987849](https://www.wikidata.org/wiki/Q100987849)  
**Source**: https://4ort.xyz/entity/countrywide-financial

## Summary
Countrywide Financial was a major American mortgage lending business and credit institution founded in 1969. It was headquartered in Pasadena, California, and was acquired by Bank of America in 2008, becoming Bank of America Home Loans. The company was a central figure in the subprime mortgage crisis.

## Key Facts
- **Entity Type:** An instance of a `business` and a `credit institution`.
- **Inception Date:** Founded on March 14, 1969.
- **Founders:** Established by David S. Loeb and Angelo Mozilo.
- **Country of Operation:** United States.
- **Headquarters Location:** Pasadena, California.
- **Dissolution Date:** Ceased operations on July 1, 2008.
- **Successor:** Followed by Bank of America Home Loans.
- **Official Website:** Was `http://my.countrywide.com/`.
- **Knowledge Base ID:** Has a Great Russian Encyclopedia portal ID: `countrywide-financial-0c3dcb`.
- **Aliases:** Also known as Countrywide Funding.

## FAQs
**What was Countrywide Financial's primary business?**
Countrywide Financial operated as a credit institution specializing in mortgage lending. It was a major player in the U.S. housing market, originating and servicing residential mortgages.

**Who founded Countrywide Financial and when did it operate?**
The company was founded on March 14, 1969, by entrepreneurs David S. Loeb and Angelo Mozilo. It operated for nearly four decades until its dissolution and acquisition in 2008.

**What happened to Countrywide Financial?**
Countrywide Financial was dissolved on July 1, 2008, amid the subprime mortgage crisis. Its operations were absorbed by Bank of America, and it was succeeded by the entity Bank of America Home Loans.

## Why It Matters
Countrywide Financial matters as a pivotal entity in the 2007-2008 global financial crisis. As one of the largest mortgage lenders in the United States, its lending practices, particularly in subprime mortgages, contributed significantly to the housing bubble. The company's near-collapse and subsequent fire-sale acquisition by Bank of America highlighted the systemic risk within the financial sector and became a key case study in the failure of mortgage-backed securities and lax lending standards. Its history is crucial for understanding the mechanisms that led to one of the most severe economic downturns in modern history.

## Notable For
- Being a primary example of a mortgage lender whose practices were central to the subprime mortgage crisis.
- Its acquisition by Bank of America, which was one of the largest and most consequential mergers during the financial crisis.
- Co-founding by Angelo Mozilo, who became a prominent and controversial figure in the financial industry.

## Body

### Corporate Identity and Classification
Countrywide Financial was legally classified as a `business`, specifically an organization engaged in commercial activity, and a `credit institution`. This dual classification underscores its role in the financial services sector as a specialized lender. Its primary goal, like any business, was economic profit, achieved through mortgage origination and financial services.

### Founding and History
The company was incorporated on **March 14, 1969**. Its founders were **David S. Loeb** and **Angelo Mozilo**. It was headquartered in **Pasadena**, California, and operated within the **United States**. The company's lifespan spanned from its 1969 inception until its dissolution on **July 1, 2008**.

### Dissolution and Successor
Countrywide Financial ceased to exist as an independent entity on July 1, 2008. It was followed by **Bank of America Home Loans**, marking its full integration into Bank of America following the acquisition. This transition occurred during the peak of the financial crisis.

### Digital and Knowledge Presence
The company maintained an official website at `http://my.countrywide.com/`. In major knowledge bases, it is identified by the **Great Russian Encyclopedia portal ID** `countrywide-financial-0c3dcb`. It is also known by the alias **Countrywide Funding**.

### Geographical and Operational Context
As an entity located in the **United States**, Countrywide Financial operated within the world's largest economy. The United States, a federal republic with its capital in Washington, D.C., provided the legal and economic framework for the company's activities. The country's financial regulations and housing market dynamics directly influenced the company's operations and eventual fate.