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2007-10-10 11:30:00

Nation's Largest Lender Launches 'America's Open House'

Calabasas, CA Sept. 25, 2007- -In an effort to help home buyers better understand today’s home financing options, Countrywide Home Loans, Inc., will enlist more than 7,000 home loan consultants to visit residential open houses across the country over the next six weeks to provide an array of mortgage financing options for customers.

Dubbed “America’s Open House,” Countrywide’s sales team will join forces with local real estate agents at weekend open houses to educate home buyers about the basics of the real estate market and give them the tools they need to shop for a home. Countrywide representatives will also visit new home sales offices and work with home builders to provide the same types of services and information.

“With housing prices lower in many parts of the country and still-low interest rates, we are clearly in a buyer’s market,” said Dan Hanson, managing director of Countrywide Home Loans. “Our hope is to make it easy for people who’ve been on the sidelines to go out, look at open houses, and understand their home loan options.”

The company is also encouraged by what it views as signs of renewed consumer interest in home finance. Countrywide experienced a 40%spike in the number of customers calling to discuss their home financing options after the Fed rate cut last week.

“It’s clear that Americans are watching mortgage rates and real estate values and are preparing themselves to shop for the right property,” Hanson said.

Through the America’s Open House campaign, Countrywide hopes to encourage buyers to do their house hunting with a clear understanding of how much they can afford and what types of financing options are available to them.

Countrywide’s home loan consultants will offer mortgage options for specific open-house properties. In addition, loan consultants will have tools on hand to provide qualified open house visitors with pre-approvals on mortgages. With a pre-approval in hand, home buyers will know how much house they can afford and, perhaps more importantly, can shop with increased confidence.

The campaign, which comes at a time when home prices in many areas of the country are being priced below prior levels, begins the weekend of September 29.

“We’re pleased to assist our local real estate professionals, and we encourage buyers to work with an expert who is seasoned in helping buyers with the home purchase transaction,” said Hanson.

It has always been Countrywide’s mission to provide optimal mortgage solutions for each homebuyer’s needs and financial situation, and it is Countrywide’s continuing commitment to help find the most appropriate mortgage solution for every qualified buyer.

For more information on the America’s Open House campaign or available mortgage financing options, call 800-747-1871. To learn more about scheduled open houses, call a local Countrywide office or real estate professional.

About Countrywide

Countrywide Home Loans, Inc., – a member of the Countrywide family: America's #1 home loan lender as ranked for 2006 by Inside Mortgage Finance (Feb. 2, 2007), Copyright 2007 – originates, purchases, securitizes, sells and services home loans and is the primary subsidiary of Countrywide Financial Corporation (NYSE: CFC). Countrywide Financial Corporation, through its subsidiaries, provides mortgage banking and diversified financial services in domestic and international markets. Founded in 1969 and a member of the S&P 500 and Fortune 500,
Countrywide Financial Corp. is headquartered in Calabasas, CA.

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