Countrywide Pledges $600B To Program

Countrywide Home Loans, Inc. said it will extend its $100-billion Challenge, begun two years ago to increase homeownership among low income and minority home buyer, with an extended commitment to fund $600 billion in home loans to previously underserved Americans through the end of the decade. Countrywide said its previous goal-to fund $100 billion in home loans through 2005 -was met three years early and was exceeded by more than $15 billion, prompting the company to extend its commitment to $600 billion through 2010.