Countrywide Creates Builder Services Unit

services division to provide financing for homebuilders and their customers. The unit has opened branches dedicated to builders in Riverside and Palm Desert, Calif.; Houston and Dallas; Orlando, Tampa, and Sunrise, Fla.; and Phoenix. Another office is expected to open in Pleasanton, Calif., by the end of the year. The division will also be placing builder representatives in selected retail branches across the country. All builder representatives will have the authority to underwrite, process, and fund loans, Countrywide said. "This new division will enable builders to provide mortgage financing as a marketing tool to reach prospective new homebuyers," said Bob Lee, senior vice president.