Countrywide Home Loans
Countrywide Home Loans is the mortgage banking subsidiary of Countrywide Financial Corporation. Countrywide Financial Corporation was founded in 1969 under the name of Countrywide Credit Industries. Its mortgage lending subsidiary Countrywide Funding Corporation Financial Corporation became later on Countrywide Home Loans.
During comparatively short time passed after its humble beginning Countrywide Financial Corporation is nowadays America’s #1 home loan leader and the first mortgage lender to surpass $ 1 trillion in servicing.
Countrywide Home Loans is a national leader in residential finance originating and servicing home mortgage loans. Countrywide Home Loans produces mortgage loans through its four divisions: Consumer Markets, Full Spectrum Lending, Wholesale Lending, and Correspondent Lending.
Full Spectrum Lending and Consumer Markets are oriented directly to consumers. Loans produced by these retail divisions are originated, funded and sold by Countrywide Financial Corporation.
Full Spectrum Lending is oriented to products for customers with less-than-perfect credit, while Consumer Markets offers a wide variety of loan products.
Wholesale Lending offers loans to consumers whose loans are originated by another broker. These type of loans are sold and funded by Countrywide Financial Corporation, through originated by other lenders.
Correspondent Lending purchases loans from other lenders, such as mortgage bankers, saving and loan associations, banks, credit unions and home builders. These loans, originated and funded by other lenders, could be sold by Countrywide Financial Corporation to investors on the secondary market.
Becoming an American success story, Countrywide Financial Corporation achieved excellent results due to its always very timely effective response to the changing business environment diversification, computer technology innovations, effective leadership and detailed and exhaustive strategic planning.
Countrywide Financial Corporation was named by Inside Mortgage Finance in 2006 as the first USA home loan lender for its achievements.
|
