Countrywide Mortgage To Team With CUs

September 23, 2002, 1:00 a.m. EDT 1 Min Read

- CALABASSAS, Calif. (09/23/02) --Countrywide Home Loans, Inc. said it will partner with creditunions and other lenders to provide mortgage loans through a newprogram called Countrywide Mortgage Ventures, LLC. Under thearrangement, Countrywide and the credit union, through a CUSO, bothcontribute start up money and share profits. says "This is arelatively new trend for executives who have not considered itbefore and there are many advantages of setting up an affiliatedbusiness arrangement," said John Stewart, vice president ofCountrywide Home Loans.

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