Belzbergs Sell: A group led by the...

Belzbergs Sell: A group led by the Belzberg family in Canada and FarWest Savings in Newport Beach sold all its shares in a Pasadena mortgage banking firm in a private transaction for $10.7 million, according to a document filed Thursday with the Securities and Exchange Commission.

The group sold 1.4 million shares of Countrywide Credit Industries Inc. during the first five days of June for $6.75 to $7.75 a share and “no longer has any intention of acquiring additional shares” of Countrywide, the document said.

No reason was given for the sale, and none of the parties involved in the transaction could be reached for comment. The buyer was not identified.

The group consists of brothers William, Samuel and Hyman Belzberg; FarWest Savings; its parent company, FarWest Financial Corp.; and American Capital Fidelity Corp.