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Countrywide and HUD

By Entitlemented following x   2015 May 4, 12:13pm 1,200 views   1 comments   watch   nsfw   quote     share    


Countrywide Is First Mortgage Lender to Voluntarily Agree to Fair Lending Goals with HUD PASADENA, Calif., Sept. 14 /PRNewswire/ -- The nation's largest mortgage lender and servicer, Countrywide Funding Corp., signed a voluntary Declaration of Fair Lending Principles and Practices ("Declaration") with the U.S. Department of Housing and Urban Development (HUD) -- the first such document -- underscoring Countrywide's commitment to increase the number of home loans made to minority and low-income borrowers. Jointly signed by Angelo R. Mozilo, president of Countrywide, Henry G. Cisneros, secretary of HUD, and Roberta Achtenberg, HUD's assistant secretary, Fair Lending and Equal Opportunity, the...


1   Tenpoundbass   ignore (15)   2015 May 4, 4:57pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

In July of 1993, House America established its Counseling Center to assist borrowers in qualifying for a loan. The recent Declaration with HUD is yet another step to ensure that all borrowers receive the same opportunities for home ownership.
Countrywide offers a full range of mortgage products, including conventional, government and jumbo loans. For low- and moderate-income and first-time homebuyers, the company offers low down payment programs with more flexible guidelines to benefit borrowers. Countrywide has made a $5 billion commitment with the Federal National Mortgage Corp. (Fannie Mae) and the Federal Home Loan Mortgage Corp. (Freddie Mac) to make such loans in 1994/1995 under its House America program.
Countrywide Funding Corp. originates and services single-family home loans. Celebrating its 25-year anniversary in 1994, Countrywide is headquartered in Pasadena and has more than 300 offices across the nation.
-0- 9/14/94

Ah the smell of Clinton Success.
With in 5 years, that $79K house I was looking at in 1996 was $225K by 2001.

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