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Daily Real Estate News  |   February 25, 2005  |   Countrywide Ups Minority Lending Goal to $1 Trillion Countrywide Home Loans Inc. has extended its minority and low-income lending goal by $400 billion to $1 trillion over the next five years. The company says its "We House America" initiative has been overwhelmingly successful since its 1992 launch and initial goal of $1.25 billion in loans, prompting the lender in 2001 to set a new bar of $600 billion in loans by 2010. However, Mary Duron, senior vice president of fair lending and the "We House America" lending program, says Countrywide had reached the $300 billion mark by the end of last year and decided to strive for even more minority and low-income lending. Angelo Mozilo, chairman and CEO of Countrywide Financial, says the program has helped put 2.4 million families in homes, and the number is expected to nearly triple over the next five years.

Source: (02/25/05)

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