MINORITIES A TARGET OF MORTGAGE PLAN.Byline: Dereck Andrade
Originally, the name Andrade (sometimes Andrada Staff Writer CALABASAS - Countrywide coun·try·wide adv. & adj. Throughout a whole country; nationwide: launched a fundraising campaign countrywide; a countrywide search. Adj. 1. Homes Loans Inc. said it will commit $100 billion over the next five years in a move designed to increase the number of first-time low income and minority home buyers nationwide. The plan was announced Thursday by Countrywide 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. Angelo Mazilo, who called the program an effort to renew the company's ``commitment to under-served Americans.'' ``It's our own challenge to originate o·rig·i·nate v. 1. To bring into being; create. 2. To come into being; start. these mortgages, but we would certainly encourage the industry as a whole to lend more,'' said Mary Salinas Salinas, city, United States Salinas (səlē`nəs), city (1990 pop. 108,777), seat of Monterey co., W Calif.; inc. 1874. It is the shipping and processing center of a fertile valley famous for its grain and lettuce. Duron, a vice president with Countrywide's Fair Lending and Housing Unit. Countrywide's move is an attempt to bring into line the number of homes minorities and low-income families own throughout the U.S., company officials said. Duron said that African-Americans and Latinos account for about 48 percent of U.S. homeowners. ``We would like to increase that rate,'' she said. ``We want to keep the thrust moving forward.'' Countrywide officials said first-time low income or minority home buyers can contact the home lending company for more information about the loan program at (800) 577-3732, or at its Web site, www.countrywide.com. |
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