Week 1 Assignment - Running Head: COUNTRYWIDE FINANCIAL...

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Running Head: COUNTRYWIDE FINANCIAL CORPORATION 1 Countrywide Financial Corporation Charles Blackstone LDR/531 September 13, 2010 Dr. Liz Minthorne
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Countrywide Financial Corporation 2 Countrywide Financial Corporation Countrywide Financial Corporation became a giant in mortgage banking. Countrywide Financial Corporation took advantage of the booming mortgage market in the early 2000’s, and was noted for pursuing home loans more aggressively than any other company did at the time. Countrywide became a $500 billion home loan corporation and had assets of $200 billion. Countrywide began to sputter when the entire mortgage business came under scrutiny by securities regulators and banking industry overseers. Countywide mission was to “break down the barriers to home ownership by supporting nonprofit organizations with missions to expand affordable housing opportunities” ( http://finance.mapsofworld.com/company/c/countrywide-financial.html ), which it did for numerous of years. Countrywide had ranked 163 rd in the world according to Forbes Magazine and was ranked351 in the Fortune Global 500. In the early 2000’s Countrywide capitalized on the housing boom powered by low interest rates. Countrywide pushed nontraditional loans and
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Week 1 Assignment - Running Head: COUNTRYWIDE FINANCIAL...

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