SERVICE SET FOR DAVID S. LOEB.Byline: Holly Andres Staff Writer A memorial service will be held July 13 in Sparks, Nev., for the co-founder and longtime chairman and president of Calabasas-based Countrywide Financial Countrywide Financial Corporation (NYSE: CFC) is a diversified financial marketing and service holding company engaged primarily in residential mortgage banking and related businesses. Corp., David S. Loeb, who died at his home in Sparks on Monday. He was 79. Loeb co-founded the mortgage bank with Angelo Mozilo in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. in 1968. He retired from the company in February 2000. There are more than 500 branch offices of Countrywide Home Loans Inc. across the nation. The S&P 500 company is active in banking, insurance, capital markets, loan closing services and global marketing. ``I was 21 years old when I first met David in 1960 when our two companies merged,'' said Angelo Mozilo, chairman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and president of Countrywide Financial Corp. ``We worked together for more than four decades, including 30 years as co-founders and leaders of Countrywide and I have always deeply respected David as a business partner, mentor and friend.'' ``He was a tough and brilliant business strategist who put Countrywide years ahead of the industry with pioneering hedging strategies, including our successful macro-hedge capability that continues to grow and serve the company and its shareholders.'' Loeb co-founded the publicly traded real estate investment trust called Countrywide Mortgage Investment. That company is now IndyMac Bancorp Inc., a bank holding company and a top 25 mortgage lender. Loeb retired from IndyMac Bancorp Inc. in February 2003 for health reasons. IndyMac board chairman and CEO Michael Perry said he visited Loeb in Sparks a few weeks before he died at the planned community Loeb had built. Loeb began his career in home construction in Florida before moving to California. ``He was really proud of that,'' Perry said. ``He started as a home builder, and he kind of finished his life as a home builder.'' Following his graduation with a degree in nautical science in 1943 from the Maine Maritime Academy Maine Maritime Academy is a public post-secondary college and nautical training institution with approximately 800 students, located in Castine, Maine. The Academy was established by the 90th Maine Legislature on March 21, 1941. Maine Maritime Academy is a public college. , Loeb, a New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. native, served as a navigator in the Merchant Marines during World War II. After the war he became a sales representative for a mortgage banker Mortgage Banker A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. and subsequently founded Lomas Realty Securities in 1950. Loeb was also a graduate of New York University New York University, mainly in New York City; coeducational; chartered 1831, opened 1832 as the Univ. of the City of New York, renamed 1896. It comprises 13 schools and colleges, maintaining 4 main centers (including the Medical Center) in the city, as well as the with a degree in accounting in 1951. Loeb is survived by his wife, Heidi, three daughters and six grandchildren. The memorial service will be held at 11:30 a.m. July 13 at the Events Center at Red Hawk, 6595 Wingfield Springs Road, Sparks, Nev. Donations in his memory can be made to the Neuropathy Association, 60 E. 42nd St., Suite 942, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10165. Staff writer Dereck Andrade contributed to this report. Holly Andres, (818) 713-3708 holly.andres(at)dailynews.com CAPTION(S): photo Photo: (color) David S. Loeb Co-founder of Countrywide |
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