Magazine article American Banker

Q&A: Chief Hired to Integrate Countrywide's Web Efforts

Magazine article American Banker

Q&A: Chief Hired to Integrate Countrywide's Web Efforts

Article excerpt

Countrywide Home Loans announced last week that it has hired David Espenschied to be senior vice president of Internet marketing.

The Calabasas, Calif., company said it created the post as part of a strategy to build a brand name for its Web site and integrate all Countrywide Credit Industries Inc.'s Web sites.

Mr. Espenschied was president of Countrywide Financial Services Corp., which marketed and distributed investment products, from 1994 until 1996. He left that year to become president of San Francisco-based Lombard Brokerage Inc.

In 1997, Dean Witter, Discover & Co.-now Morgan Stanley Dean Witter & Co.-bought Lombard and turned it into the on-line Discover Brokerage Inc. Mr. Espenschied left Discover later that year.

In an interview with American Banker, he discussed his new job and the role the Internet will play for Countrywide.

What are Countrywide's marketing plans?

We are in the process of creating advertising that will specifically drive business to Countrywide on-line, using ads in more traditional media. Also, the Countrywide wholesale business channel has ideas of how on-line can be a more valued partner to the broker communities.

So we are planning to market to brokers more aggressively. It is a significant portion of our business today, and we want to leverage the Internet in that relationship. We want to facilitate the brokers' business and Internet access.

What are your targets for on-line volume?

The mission is to establish Countrywide as the leader in the on-line mortgage business. …

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