Countrywide Home Loans Selects AT&T Voice, Data Services To Expand and Enhance Its Business.BRIDGEWATER Bridgewater, town (1990 pop. 21,249), Plymouth co., E Mass.; inc. 1656. Manufacturing includes shoes and metal products. Its iron foundry industry dates from colonial times. Bridgewater State College and a state prison are there. , N.J.--(BUSINESS WIRE)--July 16, 1998--AT&T today announced that Countrywide coun·try·wide adv. & adj. Throughout a whole country; nationwide: launched a fundraising campaign countrywide; a countrywide search. Adj. 1. Home Loans, the nation's largest independent residential mortgage lender and servicer, has awarded AT&T a contract to provide voice and data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. services. The contract is estimated by AT&T to be valued at approximately $40 million over three years, based on Countrywide's usage of AT&T's services. A leading innovator of financial products and services, Countrywide will use AT&T's world-class networking and information technologies to increase and enhance its internal and external communications to employees, business partners and consumers. For example, AT&T designed and is managing advanced toll-free services and sophisticated call center enhancements that quickly route calls from consumers interested in obtaining a new loan or refinancing Refinancing An extension and/or increase in amount of existing debt. an existing loan to the Countrywide branch office nearest the caller's location. Calls to Countrywide's toll free number, 1-800-877-EASY, will be matched and routed within seconds to one of the company's more than 330 consumer branch locations across the country, enhancing customer service and improving call center efficiency. Countrywide also will use AT&T Frame Relay A high-speed packet switching protocol used in wide area networks (WANs). Providing a granular service of up to DS3 speed (45 Mbps), it has become popular for LAN to LAN connections across remote distances, and services are offered by most major carriers. and ATM services to provide high-speed data connections between all of the company's 550 offices. The new network has been designed to provide maximum performance and availability in anticipation of Countrywide's long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. needs. "Consistent with Countrywide's mission to provide unsurpassed customer service at the lowest cost possible through innovative application of technology, this new agreement with AT&T will enable us to maximize core efficiencies while at the same time significantly reducing business costs," said Angelo Mozilo, Countrywide Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . AT&T's voice and data services will be provided through AT&T OneNet(sm) Service, a business package that simplifies purchasing and managing certain sophisticated telecommunications services In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. , allowing customers to sign a single contract for these services with a single revenue commitment. AT&T OneNet customers can package the company's industry-leading long distance and toll-free services, audio-teleconferencing, private line and frame relay service. AT&T OneNet enables customers to negotiate a single contract that combines a package of network services under a simple pricing structure with one set of terms and conditions, allowing them to leverage their telecommunications spending across multiple services. Founded in 1969 and based in Calabasas, Calif., Countrywide originates, purchases, sells and services loans for single-family homes. Additional information about the company can be found on its website, www.countrywide.com. Business customers interested in learning more about AT&T's services should contact their account executive or visit the company's website at www.att.com.
CONTACT: AT&T
Janet Wyles
908-658-5235 (office)
888-602-3630 (pager)
or
Countrywide Home Loans, Inc.
Mark Benhard
800-796-8448
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