Countrywidemortgage

The Countrywide Financial Corporation is a financial services holding company that is publicly traded on the stock market under the letters CFC. It operates in 5 different areas, including mortgages, insurance, banking, and global operations. The mortgage part of the countrywide financial corp. is by far the largest, it earned well over 50% of the companies revenue during the 2005 year.

Countrywide Mortgage Services operates on a nationwide scale. Most of the mortgages that are generated in the current market are resold back into the market in the form of mortgage-backed securities, although they generally still service the loan. Countrywide Mortgage also provides such services as closing services, appraisal, title and escrow.

Countrywide Mortgage is also heavy into the loan origination end of the mortgage business. They originate the loans in several ways. First they have a mortgage branch that gets the loans directly from the consumer. They also lend to wholesalers as well as purchasing loans from other originating companies. That is why you may have your mortgage with Countrywide even though you went through a local bank.

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