The subprime mortgage originator Full Spectrum Lending Inc. said last week that it would offer credit-repair mortgages through its Web site.

The company, a subsidiary of Countrywide Credit Industries Inc., is offering a fixed interest rate for the first two to three years of a loan, allowing customers time to re-establish good credit.

At the end of the fixed-rate period, the customers may try to qualify for a conventional mortgage at a lower rate or continue with the credit- repair product at an adjustable rate. At the company's Web site, customers can calculate their monthly mortgage payments, pre-qualify for loans, and estimate how much equity they have in their homes.

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