Countrywide Takes advantage of the Subprime Market Consolidation

According to this Washington Post article, Countrywide will be adding 2,000 new positions. In addition they will be adding 50 year mortgages and reverse mortgages to their product mix. The consolidation in the industry continues as many of the sub prime lenders in the marketplace continue to let people go. They expect consolidation so much so that they have launched Country Wide Careers. The recent layoffs in the marketplace mean that Countrywide can cherry pick some of the best professionals in the industry. On that note Accredited Home Lenders Holding Coa San Diego subprime lender, on Friday said it cut 1,300 jobs, or 31 percent of its staff, in the first quarter.