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Countrywide is a diversified economic services firm with mortgage banking at its core, founded in 1969 by two New Yorkers, Angelo Mozilo and David Loeb when they began the Countrywide Credit Industries. Expansion began in 1979, and by the subsequent year, Countrywide had 40 offices in downtown Los Angeles, and in 1981, Countrywide Securities Corporation, a broker-dealer subsidiary that would sell securities backed by loans produced was formed. Countrywide hit ... Brief history Countrywide is a diversified financial services company with mortgage banking at its core, founded in 1969 by two New Yorkers, Angelo Mozilo and David Loeb when they started the Countrywide Credit Industries. Expansion began in 1979, and by the subsequent year, Countrywide had 40 offices in downtown Los Angeles, and in 1981, Countrywide Securities Corporation, a broker-dealer subsidiary that would sell securities backed by loans made was formed. Countrywide hit the $1 billion mark in loan servicing in 1984. In 1985, Forbes Magazine listed Countrywide as 1 of the 200 Greatest Tiny Businesses, and in 1987, Fortune Magazine's Best 100 Stocks of the Year ranked the business at 37th. For the duration of this period, Countrywide moved its headquarters to Pasadena, California. In 1992, Countrywide launched Property America, a formal cost-effective lending program, intended to reach out to minority communities, and low and moderate revenue citizens as a solution for homeownership. By 1995, the Consumer Markets Division was began, an strategy to reach out directly to consumers. In the year that followed, Countrywide launched the Home Equity Lending Division and Full Spectrum Lending, Inc (to offer loans to borrowers with bad credit). In 1999, CW Technology Solutions, a new subsidiary was launched with core applications for international mortgage processing operations, such as arrears systems, loan origination, servicing. Then in November 2000, an additional subsidiary that would serve as the European affiliate of Countrywide Securities Corporation, Countrywide Capital Markets International, Ltd. (CCM) was launched. In January 2006, Countrywide was granted by Inside Mortgage Finance the status of Americas No.1 home loan lender, and by this time, Countrywide Bank had grown to turn out to be the 11th biggest bank, and the fastest expanding amongst the major banks in the United States. This is the same year in which Countrywide became the 1st the initial mortgage lender to hit the $1 trillion mark in loan servicing. Countrywide House Equity Loan Programs: Home Equity Loan - in which principal and interest payment remains the very same over the life of the loan Home Equity Line of Credit - Low commence interest rate, then variable monthly rate based on the prime rate as published in The Wall Street Journal plus a margin or outstanding balance. Combining House Equity Loans or Lines of Credit with Very first Mortgages which is available on most Countrywide loan programs, featuring additional tax positive aspects. Super Streamline Property Equity Line of Credit - Rewards are related to Residence Equity Line of Credit, but with less paperwork and ready cash for those whose job and economic scenario haven't changed significantly following their loans have been closed recently. You can borrow against up to 90% of your home's value. 125% Equity Loan - Loan amounts up to 125% of the value of the house bad credit home loan rate