Is it Safe to attain an FHA loan through Countrywide Financial? Fixed 30 yr mortgage at 6.25%?
Answers:
Yup - it's BoA.
Personally, I would not business deal with Countrywide. Between their financial situation and the theft of private information by their personnel, I wouldn't trust my information with them. I go to my wall for mortgages.
Good luck.
As long as it's a fixed rate you want run into any problems. The home loans foreclosures are on adjustable rates.
Countrywide was founded in 1969 by David S. Loeb and Angelo Mozilo. Loeb died within 2003. The initial public offering was less than successful, near company stock trading over the counter at less than $1 per share. In 1985 Countrywide stock was re-listed on the New York Stock Exchange underneath the ticker symbol CFC.
CFC has been described as the "23,000% stock" by Fortune magazine. Between 1982 and 2003, Countrywide deliver investors a 23,000% return, exceeding the returns of Washington Mutual, Wal-Mart, and Warren Buffett's Berkshire Hathaway.
Country wide has be stable and no reasons to doubt it, The FHA backup the loan so you are pretty sound. Source(s): http://www.countrywide.com/purchase/f_re…
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