Industry News

Countrywide teams with West Coast home builder

Lender's joint venture is latest in a series

Countrywide Home Loans Inc. today announced a joint venture with Pacific Coast Communities, a San Diego home builder. The residential mortgage powerhouse and home builder formed PCC Mortgage Group, which aims to provide more home-financing options to San Diego County homeowners. "PCC Mortgage Group will offer some of the most competitive loan products, interest rates and services in the industry. A variety of loan programs, including zero-down-payment loans and fixed- and adjustable-rate options will be available through PCC Mortgage Group," company officials said today. PCC sells between 300 and 400 units per year. The latest announcement is part of a Countrywide push to engage in joint ventures with home builders, real estate companies and financial service companies. The company formed Countrywide Mortgage Ventures LLC in 2001 to facilitate these joint ventures. Countrywide Mortgage Ventures has a headquarters in Calabasas, Calif. The joint venture will provide the following to th...