Goals

Countrywide Home Loans, a division of Countrywide Bank, FSB was founded in 1969 on the principle that home loans should be affordable and available to all Americans. Its founders, Angelo Mozilo and David Loeb, believed that by lowering the barriers to homeownership, driving down costs and increasing home buyer education, Countrywide Home Loans would transform a founding principle into concrete long-term results.

Building on this firm foundation, for more than three decades Countrywide has worked harder than any other lender to make homeownership possible for all Americans. And along the way, the company has implemented successful strategies and set aggressive goals to ensure that home loans are affordable and available.

Today, Countrywide's goals are embodied in the $1 Trillion Dollar We House America Challenge, the company's initiative that seeks to fund $1 trillion in home loans to minorities and lower-income borrowers, and to borrowers in lower-income communities, between 2001 and 2010.

Countrywide's Chairman and CEO Angelo Mozilo describes the importance of meeting this challenge, saying, "Through our One Trillion Dollar Challenge, Countrywide recognizes the importance of the multicultural markets in our nation and the fact that all Americans should have the same opportunity to own a home and build financial wealth. Homeownership strengthens families and communities. It is the foundation of our society."

• Expanding partnerships with nonprofit and community-based organizations that seek to increase homeownership
• Supporting housing initiatives that benefit lower-income and minority families
• Employing a diverse workforce of dedicated individuals who are members of the communities they serve
• Participating in home buying fairs, seminars and various outreach activities to spread the message that homeownership is an attainable goal
• Extending further the company's existing relationships with more than 800 government and nonprofit organizations that provide down payment assistance in their communities
• Offering a wide selection of information, tools and educational resources that assist consumers in achieving financial literacy, particularly as it applies to the home purchasing process and understanding their rights as a consumer.

Through dedication to its founding principles, the support of its best-of class workforce and the ongoing success of its initiatives, Countrywide is confident it will meet the One Trillion Dollar Challenge. As our past achievements demonstrate, the company has a long history of successfully implementing initiatives that meet affordable lending goals.

Our History of Achievement

• 1992: Countrywide developed House America, a business unit dedicated to offering consumer education and affordable lending programs. Countrywide was one of the first lenders to offer a low down payment home loan that benefited low- to moderate-income borrowers. In the same year, the company set an affordable lending goal of $1.25 billion, the largest pledge by a mortgage lender at that time.
• 1993: Countrywide Home Loans raised its affordable lending goal to $5 billion and opened its first House America inner-city office to reach underserved communities.
• 1998: Countrywide announced a new five-year initiative to increase mortgage lending to minorities and lower-income borrowers. The campaign, entitled We House America, had the primary goals of assisting 570,000 low-income and minority consumers to achieve homeownership by funding $50 billion in home loans. In 1999, that goal was increased to $80 billion, raising the number of families benefiting from the campaign to an estimated 800,000 nationwide.
• 2001: Countrywide announced the One Hundred Billion Dollar Challenge, a new $100 billion initiative to increase homeownership among low-income and minority home buyers over the next five years.
• Countrywide's previous goal - to fund $100 billion in home loans through 2005 - was met three years early and was exceeded by more than $15 billion, prompting the company to extend its commitment to $600 billion through 2010.
• Countrywide introduces a valuable new loan product, called the House America® Loan Program, to help more potential home buyers become homeowners.
• Countrywide extends its We House America® initiative to fund $1 trillion in home loans to minorities and lower-income borrowers and communities through 2010.

Countrywide Home Loans is proud of its accomplishments. And we remain focused on our founding principle-a principle that continues to guide our efforts to expand the opportunities for homeownership to lower-income and minority families and ensure access to affordable home loans in historically underserved communities. Working with community leaders, housing experts and business partners, Countrywide will increase homeownership levels, revitalizing the nation's neighborhoods and communities. We will unlock the doors to the American dream.