Pros

During the housing boom, Countrywide was one of the fastest growing public companies around. Senior management was probably the most knowledgable about the mortgage industry.

Cons

The different divisions (e.g., mortgage, banking, insurance, etc.) and overhead functions did not work together in the most collaborative and effective way; instead, performance was based on individual achievements. Professionally managed companies make sure that divisions and functions work together, sharing resources and intellectual capital. Countrywide, unfortunately, was not quite there.

Advice to Senior Management

Better risk management and more focus on long-term growth is needed rather than the desire to chase market share.