Content area
Full text
CALABASAS, CA-The wholesale lending division of Countrywide Home Loans Inc. has added a 95% loan-to-value program to its subprime product line for borrowers whose credit is just below conforming guidelines.
The program includes a $400,000 maximum loan amount as well as no mortgage insurance or reserves. Firsttime homebuyers are eligible with a credit score as low as 600.
"This resulted from a combination of...