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Building Strength to Carry You Through: Countrywide’s Latest Initiatives to Support Homebuilders
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| November 2007 |
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| Building Strength to Carry You Through: Countrywide’s Latest Initiatives to Support Homebuilders
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There’s no question that these are turbulent times in our industry, but leaning on the strength of a longstanding industry leader can help keep your business solid and poised for long-term growth. Now more than ever, you can count on Countrywide, America’s #1 home loan lender1, to deliver world-class service and powerful home financing solutions that can help you move more inventory.
As outlined in a recent statement affirming Countrywide’s commitment to our business partners, we are taking decisive action to enhance our services and put our assets to work for you. Here are just some of the strategies we have recently deployed to combat market challenges and help you secure more buyers:
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Increase liquidity.
Countrywide has taken key steps to strengthen its capital base, resulting in more than $25 billion in new capital since August 1, 2007. In addition to enhancing liquidity, this action has significantly dispelled misperceptions about our stability, helping to solidify our leadership status and our position as a trusted, leading lender of choice for you and your home buyers.
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Heighten efficiency.
Pro-actively accelerating long-held plans, Countrywide is migrating core home loan production funding under the strength of Countrywide Bank, FSB—a federal savings bank with more than $94 billion in assets and more than $8 billion of capital, plus reserves. This strategic initiative is designed to foster greater operational efficiencies and reduced borrowing costs, among other advantages.
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Lock-in funding.
As Countrywide Bank continues to grow, it is anticipated that more than 90 percent of the loans we originate will be eligible for funding through Countrywide Bank or government sponsored entities Fannie Mae and Freddie Mac.
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In our nearly 40 years’ experience, we have helped more than 25 million borrowers own a home in the United States and have weathered many market shifts. Through it all, we have remained steadfast in our commitment to our business partners. And we will continue to be dedicated to you and the homebuilding community, offering innovative, builder-centered advantages such as our one-time close construction-to-permanent loan program, builder rate cap program (which recently underwent pricing enhancements), forward commitments protection, condo project approval services and strategic business alliances opportunities.
Our achievements in the industry speak for themselves: #91 on the Fortune 500,2 #168 in the Forbes Global 2000,3 #1 home loan lender to Multi-Cultural Markets,4 and we continue to be America’s #1 home loan lender.1 But one of our greatest positions of honor is being your business partner. We value our relationship with you and remain committed to your success, through the current market and beyond. Backed by the power of Countrywide, you can sharpen your competitive edge and together, we can take your business to new heights.
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As ranked for 2006 by Inside Mortgage Finance (Feb. 2, 2007) ©2007. |
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Fortune Magazine, 4/2007 |
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Forbes Magazine, 4/2007 |
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Based on a comparison of loans originated and purchased in 2005 to African American, Hispanic, Asian/Pacific Islander and American Indian/Alaska Native homeowners, and reported in 2006 under the Home Mortgage Disclosure Act (HMDA) by individual reporters. |
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