 | | |  | | Consumer Loans
Consumer Markets Division
- Lends directly to consumers. Borrowers who are buying or refinancing a home make contact through a branch office, over the telephone or through the Internet.
- Funded $19.0 billion in loans in Fiscal 2001.
Wholesale Lending Division
- Lends to consumers through a network of nearly 15,000 mortgage brokers.
- Funded $19.9 billion in loans in Fiscal 2001.
Full Spectrum Lending, Inc.
- Lends directly to sub-prime consumers through a nationwide network of 41 branches.
- Funded $1.6 billion in loans in Fiscal 2001.
Note: e-Commerce, which includes telemarketing and Internet fundings, is a growing and important component of our consumer lending businesses. Consumer e-commerce loan fundings represented 44 percent of total consumer loan fundings in Fiscal 2001.
Loan Closing Services
Through LandSafe, Inc., Countrywide offers an array of loan closing services for residential mortgage loan transactions, including property appraisals, credit reporting services, flood zone determinations, pre-purchase home inspections, title searches and escrow and closing documentation.
- Completed more than 2.6 million appraisal, credit reporting, flood zone determination and title orders in Fiscal 2001.
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| | | | |  | | Countrywide offers retail property and casualty insurance, as well as life and disability insurance products, directly to consumers through Countrywide Insurance Services, Inc.
- $226.6 million in annualized premiums at February 28, 2001.
- Over 514,000 policies in force at February 28, 2001.
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| | | | |  | | | In connection with Countrywide's mortgage banking activities, the company retains certain mortgage-related assets, which include capitalized mortgage servicing rights and residual interests. In addition, the company also manages a servicing hedge which is designed to protect these investments against prepayment risk.
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| | | | |  | | Correspondent Lending
- Countrywide purchases closed loans from mortgage bankers, commercial banks, and other financial institutions.
- Funded $28.4 billion in Fiscal 2001.
- Countrywide Warehouse Lending provides warehouse lines of credit to mortgage originators to finance their origination or acquisition of residential mortgage loans.
Countrywide Capital Markets (CCM)
Countrywide Securities Corporation
- Specializes in trading and underwriting of fixed income products, with an emphasis on mortgages and mortgage-related products, agency and corporate debt, and certificates of deposit.
- Total trading volume for Fiscal 2001 was $742 billion.
Countrywide Servicing Exchange
- Brokers bulk servicing for third parties and arranges mortgage servicing purchases for Countrywide Home Loans (CHL).
Countrywide Asset Management Corporation
- Specializes in the purchase, acquisition, servicing, management and disposition of residential mortgage assets, including mortgage servicing rights.
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| | | | |  | | Services total domestic loan portfolio of $293.6 billion
- $285 billion portfolio for CHL at February 28, 2001.
- $8.6 billion portfolio for sub-servicing for other lenders at February 28, 2001.
50 percent ownership of Global Home Loans, Limited (GHL)
- GHL services over 750,000 loans for our joint venture partner, Woolwich, plc.
- GHL processes over 10,000 loans per month for Woolwich, plc.
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| | | | |  | | Countrywide serves the insurance needs of institutional clients, business partners, and their customers through Balboa Life and Casualty ("Balboa"), a national property, liability, and life insurance carrier, and DirectNet Insurance, which offers a wide array of insurance products through its website, call centers, and direct-mail efforts.
- Balboa's net written premiums for the twelve month period ending February 28, 2001 were $244 million. Countrywide acquired Balboa on November 30, 1999.
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