CALABASAS, CA /PRNewswire/ -- Countrywide Home Loans, Inc., a
national leader in residential finance, is ranked as the number one
lender to minorities according to National Mortgage News affiliate
Mortgagestats.com. Mortgagestats.com used Home Mortgage Disclosure Act
(HMDA) data for 2000 to determine rankings for mortgage lenders.
Countrywide led in overall minority lending with a total of $10
billion and also ranked number one in lending to Hispanics and African
Americans for the same time period.
"Countrywide has been committed to the availability of affordable
homeownership to all Americans since our inception more than 30 years
ago," said Angelo Mozilo, chairman of Countrywide Home Loans. "We
continue each year to devote our tremendous resources towards reaching
out to thousands of prospective home buyers to help them understand
that the dream of homeownership is within their grasp. This mission is
a cornerstone of Countrywide and something I'm incredibly proud of.
"This year's data shows the results of our work. We retained our
position as the number one lender of loans to African Americans and
Hispanics nationwide." Overall, the company's market share among all
minorities (African American, Asian, Hispanic, Native
American/Alaskan) increased to 5.26 percent, totaling more than 86,000
loans in 2000.
"In addition to our focus on assisting historically underserved
home buyers, we have dedicated resources to expanding and encouraging
homeownership in economically depressed areas, helping to revitalize
these communities with the pride of homeownership," said Mozilo.
Countrywide has consistently been a leader in opening access to
mortgage credit for all sectors of American society. In 1992,
Countrywide created its House America(R) program, supporting its fair
lending commitment through specialized loan programs, community
outreach and a nationwide home buyer counseling center. In March 2000,
Countrywide became the first mortgage lender in the nation to renew
with the U.S. Department of Housing and Urban Development (HUD) its
Declaration of Fair Lending Principles and Practices. In doing so, the
company affirmed its commitment to fair lending and set forth a series
of company-wide practices aimed at increasing loans to low- to
moderate-income and minority borrowers.
Mozilo credits Countrywide's record to its aggressive "We House
America" campaign to help minority and lower income borrowers seek
homeownership. Last year, the company reaffirmed its commitment to
affordable lending with a new pledge, the One Hundred Billion Dollar
Challenge, which aims to provide $100 billion in loans to lower income
and minority home buyers and in lower income communities by 2005.
Founded in 1969, Countrywide Credit Industries, Inc. is a member of
the S&P 500 and Forbes 500. Its primary subsidiary, Countrywide Home
Loans, Inc., was recently ranked #1 in customer satisfaction among the
largest national home mortgage lenders by J.D. Power and Associates.**
Countrywide, through its subsidiaries and affiliates, provides
mortgage banking and diversified financial services in domestic and
international markets. Consumer businesses include mortgages,
insurance and other financial products. Business-to-business
activities encompass capital markets, transaction processing and
insurance. The company is headquartered in Calabasas, California and
has more than 15,000 employees with over 500 offices. For more
information about the company, visit Countrywide's Web site at
http://www.countrywide.com/ .
Source: Countrywide Home Loans, Inc.
Contact: Kris Yamamoto or Jumana Bauwens, both of Countrywide Home
Loans, Inc., 1-800-796-8448
Website:
http://www.countrywide.com/
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