Countrywide, Paragon enter joint venture

Countrywide Home Loans and Paragon Financial Resources today announced the formation of Paragon Financial Mortgage, which aims to offer some of the most competitive loan products, interest rates and services in the industry.

Paragon Financial Mortgage, an operating division of Countrywide Mortgage Ventures, will offer qualified home buyers options that include zero down payment loans, an attractive benefit for transferees who have yet to sell their existing home. The company also offers a variety of fixed and adjustable-rate options with optimum flexibility on rate and terms.

Other benefits for Paragon's home financing customers include Fast & Simple, a special program that enables qualified borrowers with excellent credit access to a streamlined loan application, and streamlined up-front approval, subject to satisfactory property review and no change in borrower's financial condition.

Paragon Global Resources is the parent company of various wholly owned subsidiaries, including Paragon Relocation Resources, Paragon Financial Resources, Paragon Real Estate Resources, Paragon Decision Resources Inc. and Paragon Career Resources.

Calabasas, Calif.-based Countrywide Home Loans Inc. originates, purchases, securitizes, sells and services primarily prime-quality loans. Countrywide Mortgage Ventures was founded in 2001 to facilitate joint ventures between Countrywide Home Loans and various homebuilders, real estate companies and financial services companies.

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