Just Months After Reverse Mortgage Debut, Countrywide Faces Big Problems
Written by admin on Wednesday, August 15th, 2007 in Reverse Mortage, Reverse Mortgage Opinions.
Just three months ago (May 14, 2007) Countrywide, the nation’s leading home lender, made a big debut into the reverse mortgage market with roll out of the SimpleEquity reverse mortgage program. Company officials made it clear at the time that they fully intended to become as big a player in the reverse mortgage arena as they already were in the traditional mortgage market:
Steve Boland, managing director for reverse mortgages at Countrywide, called the entry into these products “a very natural progression” for a lender that already ranked first among the nation’s traditional home mortgage providers by market share. Ultimately, he said, Countrywide aims to “dominate the reverse mortgage industry.”