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Countrywide Home Loans Opens 'House America' Branch in Cincinnati
Friday April 29, 9:00 am ET
New Branch to Serve Low- to Moderate-Income Borrowers and Communities
CINCINNATI, April 29 /PRNewswire-FirstCall/ -- Countrywide Home Loans, Inc., a member of Countrywide Financial Corp. (NYSE: CFC - News) family -- America's #1 residential lender*, today opened a new "House America" branch in Cincinnati. The unique branch, serving the needs of minority and low- to moderate-income borrower and communities, is located at 2735 Madison Road.
House America branches offer access to affordable home financing options and counseling, as well as information about the process of qualifying for a home loan. The branches offer the company's national affordable housing initiatives locally to help more families achieve the American dream of homeownership.
"Our House America expansion is one of the many ways in which Countrywide is bringing home loan resources to underserved communities," said Mary Duron, executive vice president and manager of National Multicultural Sales. "We will continue to look for new approaches to make the dream of homeownership possible for more people and to make the home buying process easier and more affordable."
As a source for homebuyer education and resources, the Cincinnati branch will offer:
* homebuyer workshops and classes
* credit and budget counseling
* information on and access to down payment assistance programs
* information on affordable loan programs for all levels of income
* loan pre-qualification assistance, including a free credit report
* English- and Spanish-language counselors (available from 7:30 a.m. to
6:00 p.m. Pacific Standard Time at 800-577-3732 for English or
800-293-6316 for Spanish)
* access to low down payment loan options, including the Countrywide
Optimum Loan(SM) Program
"We're extremely proud to be able to offer Countrywide's products in Cincinnati communities," said Jasen Price, manager of the new branch. "We will continue our commitment to meet borrower needs by offering loan options designed to put home financing in the reach of more families."
Price noted that Countrywide recently introduced its Countrywide Optimum Loan Program to help creditworthy individuals who have little or no funds for down payments and closing costs -- one of the biggest obstacles to homeownership. The program requires a cash contribution of the lesser of one percent of the home's sale price or $500. The program includes flexible underwriting guidelines that consider non-traditional credit, income and asset sources.
The new House America branch furthers Countrywide's goal of being the leading source of home financing in the nation. For 36 years, Countrywide has been dedicated to helping more Americans achieve the dream of homeownership by offering affordable home financing options and by educating consumers about the process of obtaining a loan.
Toward that end, Countrywide has extended its We House America campaign and has made a "$1 Trillion Challenge," a commitment to fund $1 trillion in home loans in previously underserved communities by 2010. It is because of initiatives like this to increase lending resources and make the dream of homeownership possible for more families that Countrywide has become one of the largest lenders to minorities, and one of the largest lenders in low- to moderate income communities.
In honor of the occasion, Cincinnati Mayor J. Charlie Luken declared Thursday, April 28, 2005 "Country Home Loans, Inc. Day," in honor of the branch and its providing mortgage services to the underserved communities of Cincinnati.
The House America Cincinnati branch telephone number is (513) 979-5600.
*About Countrywide Home Loans, Inc.
Countrywide Home Loans, Inc., -- a member of the Countrywide family: America's #1 residential lender as ranked by Inside Mortgage Finance (Jan. 28, 2005), Copyright 2005 -- originates, purchases, securitizes, sells and services home loans and is the primary subsidiary of Countrywide Financial Corporation (NYSE: CFC - News). Countrywide Financial Corporation, through its subsidiaries, provides mortgage banking and diversified financial services in domestic and international markets. Founded in 1969 and a member of the S&P 500 and Fortune 500, Countrywide Financial Corporation is headquartered in Calabasas, California and its family of companies has a workforce of more than 40,000 in over 70 offices across the country.
Source: Countrywide Home Loans, Inc.
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