Leading residential mortgage banker Countrywide Financial Corporation is expanding into the commercial mortgage market, the company announced today.

Countrywide has hired a team of principals from Coastal Capital Lenders in Sausalito, Calif. to lead Countrywide Commercial Real Estate Finance, effective today.

Leading residential mortgage banker Countrywide Financial Corporation is expanding into the commercial mortgage market, the company announced today.

Countrywide has hired a team of principals from Coastal Capital Lenders in Sausalito, Calif. to lead Countrywide Commercial Real Estate Finance, effective today.

“We enter the market with leadership and teamwork that can leverage Countrywide’s established residential mortgage and capital markets expertise and technological prowess to make us a leader in commercial real estate finance,” said Ron Kripalani, president and CEO of Countrywide Capital Markets, in a statement.

He said having an experienced and cohesive group means the company can quickly ramp up its new commercial lending side.

Countrywide Commercial Real Estate Finance will be based at Countrywide Capital Market’s headquarters in Calabasas, Calif. and will maintain a sales office in Sausalito, Calif.

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