The National Mortgage News reported today the following:
Bank of America late Monday fired Drew Gissinger, a top production executive at Countrywide Home Loans who was in charge of retail, wholesale, and correspondent lending, according to company officials. Also let go were: Brian Hale, president of retail; Charlie Rogers, managing director of Countrywide's nationwide retail network; and Tom Hunt, managing director of the western U.S. retail branch network. Mr. Gissinger once carried the title of president and chief operating officer of Countrywide Home Loans. Meanwhile, BoA named Craig Buffie the top executive in charge of sales and fulfillment, overseeing 14,000 employees in the mortgage group. BoA bought Countrywide on July 1.
According to a lot of mortgage insiders, when the top drops so do the supports underneath it. I have met Brian Hale. He's an interesting man to say the least. To see him depart means big changes are underway at B of A Countrywide. Let's see where the dust settles.