Industry News

Countrywide, Napolitano enter joint venture

Cos. create mortgage firm to tap Virginia real estate market

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Countrywide Home Loans and Napolitano Homes today announced the formation of NCL Mortgage, a mortgage venture that aims to provide home buyers in southeastern Virginia with a wide variety of home financing programs. NCL Mortgage, an operating division of Countrywide Mortgage Ventures, will offer zero down payment loans and a variety of fixed- and adjustable-rate options. NCL will also offer Fast & Simple, a program that enables qualified borrowers with excellent credit access to a streamlined loan application, in addition to free interest-rate protection, subject to time limits. 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 home builders, real estate companies and financial services companies. *** Send a Letter to the Editor for publication.Send a comment or news tip to...