Magazine article Mortgage Banking

Countrywide Nation's No. 1 Lender in Emerging Markets

Magazine article Mortgage Banking

Countrywide Nation's No. 1 Lender in Emerging Markets

Article excerpt

COUNTRYWIDE HOME LOANS INC., CALabasas, California, announced it has become the nation's leading mortgage lender to emerging-markets communities, which include African-American, Hispanic, Asian/Pacific Islander and American Indian/Alaskan Native homeowners.

The announcement was based on annual HMDA data for 2003 released by the Federal Financial Institutions Examinations Council (FFIEC), which compiles the mortgage lending results reported by lenders nationwide to federal regulators. According to the data, Countrywide Home Loans originated or purchased 440,870 loans made to members of minority groups--the highest number reported by any mortgage lender and an increase in loan volume of 65.5 percent over the previous year. The HMDA report also showed that Countrywide maintained a leading role nationally as one of the largest providers of home loans in low-income communities and to low-income homeowners.

"We're extremely proud of our accomplishments, as they clearly demonstrate our long-standing commitment to provide all Americans with the opportunity to achieve the dream of homeownership," said Angelo Mozilo, Countrywide Financial Corporation's chairman and chief executive officer. …

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