From long-time Countrywide insider Kevin Buddy on BofA's purchase of Countrywide.
"The deal is not supposed to close until the 3rd quarter of 2008. Integration begins 2009. We are being told BofA prefers our platform/model for mortgages and has asked our President, Dave Sambol, to stay on and run the whole mortgage division. They say our technology, product mix and execution is superior to theirs. After the close the combination of both companies will have 25% of the mortgage market share in the country. The next closest is Wells Fargo at 11%. For now it's business as usual. There are no immediate changes"
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