Summary Of Countrywide Financial Corporation

Summary Of Countrywide Financial Corporation

What is Subprime Lending?
• Making loans to people who may have difficulty maintaining the repayment schedule.
• Practice of making loans to borrowers who do not qualify for the best market interest rates because of their deficient credit history.
INTRODUCTION
• Countrywide is a diversified financial services company focused primarily on real estate finance and related activities.
• Since its founding in 1969, Countrywide's mission has been to help individuals and families achieve and preserve the dream of homeownership.
• Leadership, Diversity & Performance
• "Leadership: Countrywide is America's #1 home loan lender. In fact, they are the leader in nearly every aspect of real estate finance.
• Diversity: Countrywide is America's #1 Lender to Minorities. The company is commited to the Hispanic, Asian, and African American markets and continues to build a diverse workforce and management team.
• Performance: Countrywide has been one of the best performing financial services companies in the past 25 years and is ranked #91 in the Fortune 500. "
HISTORY
• 1969-1984 "Countrywide as a Lender, a vision realized": Offices without sales people. A mortgage company that operates like a bank. Developed the industry's first PC based loan servicing system. 40 offices in 8 states.
• 1984-1989 "Countrywide Hits Major Milestones": Company listed in NYSE, reached the $1 billion milestone, and started building its Wholesale Lending Department.
• 1990-1999 "Countrywide The #1 Mortgage Lender": Company listed in the S&P500, begins the offering of diversified financial services (Home Equity Division, Full- Spectrum Lending, Institutional Lending, Loan Closing, Insurance, Capital Market services). Global Expansion
• 2000-2006 "A Financial Services Powerhouse": Countrywide is a diversified financial services company serving consumers and institutions, with mortgage origination and servicing at its core.

OTHER REFRENCES
• Countrywide's culture...