Countrywide Acquires Balboa Life and Casualty

Countrywide Credit Industries Inc., Calabasas, has acquired Balboa Life and Casualty Group from Associates First Capital Corp., for $425 million in cash, the company announced. Balboa specializes in creditor-placed auto and homeowners insurance nationwide.

Countrywide provides loans for single-family homes through its subsidiary, Countrywide Home Loans.