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|Countrywide Financial is a subsidiary of the Bank of America which is a financial company engaged in residential and business mortgage solutions. It was formed in the year 1969 and since then, the Countrywide financial provides various kinds of home loans and other banking solutions to its customers. Since then it has created a history of providing world class services to all its customers. As of 2007, it generated a revenue of $6,069,417,000 USD. In the year 2006, it financed around 25% of all mortgages in United States of America. In the year 2008 itself, Bank of America had plans to take over Countrywide and in the year 2009, it purchased Countrywide Financial for $4.3 billion in stock. Since then, it works under the BofA name and does not operate under Countrywide Financial Corporation.
Countrywide Financial and Bank of America
The merger of Countrywide financial and bank of America happened in June 2009 when the BofA decided to purchase Countrywide. On June 5th the Bank of America Corporation announced that it had the approval and permission of the Board of Governors of Federal Reserve System to take over Countrywide Financial Corporation. 69%, almost a majority of shareholders were ready to merge with the Bank of America and operate from the latter's name. During the recent financial crisis, Countrywide also suffered severe blows in the banking market. All the customers of Countrywide were then shifted to the BofA and their accounts were renamed in the name of Bank of America. The merger of both these financial enterprises caused a shift in the banking sector. The acquisition caused a settlement in a number of dealings. Countrywide was well known for its home loans that it offered to its customers and after the merger of both the banks, the customers of Countrywide became an integral part of Bank of America. BofA offered loan modification program to all the customers who felt that the merger was a loss to them. However, the bank tired its best to retain its customers and give the best services possible to all. All the customer complaints were tackled by the Bank of America as Countrywide had almost shut down. Thus, the Countrywide financial has faced certain hardships which was initially difficult to tackle. The year 2009 has seen a lot of ups and downs in the entire financial sector of the world and this is one amongst them.
Countrywide Financial Corporation of India
Countrywide financial corporation was first established in the United States of America with a sole motive of providing housing facilities to all the people of America. In the year 2004, this corporation has entered India and the Indian market with its head office in Mumbai. It has also created a number of employment opportunities in India. Apart from Mumbai, it has its branch office in Hyderabad. Countrywide financial corporation is already planning to extend its reach to the rest of the country so that it has better business opportunities in India.
Countrywide Home Loans
Countrywide used to offer the best of home loan products and after its merger with the Bank of America, the BofA main aim has been to live up to the expectations of all the customers. It gives out home loans to buy a first house, to invest in property, for renovation and furnishing purposes and also for refinancing an existing loan availed from a different banking institution. It also provides home equity loans in order to access an equity that is present on your present home. This equity can be put in to any kind of housing uses such as for improving the house or consolidating debts. Countrywide financial also used to give insurance on mortgage availed. The same is being done by the bank of America now. The mortgage rates are the same as it was previously charged.
Locations of Countrywide Financial Group
Countrywide financial is present in almost all parts of the United States of America. It has its branches in California, Texas, Dallas, Chicago, Arizona, Houston, Fl Florida, Illinois etc. The bank has its head office in Charlotte, NC. Before its merger with the Bank of America, it was called as the Countrywide financial corporation, but now, after its merger with the BofA, it is no longer referred that way. Branches of Countrywide financial are same as Bank of America's branches. BofA has around 9000 branches in the United States and has also spread its network in other countries of the world such as UK, Spain, Greece, Italy, Netherlands, Belgium, France Ireland etc. In India, Bank of America has its branches in Mumbai, Hyderabad and Bangalore. Countrywide financial corporate headquarters is now changed to Bank of America branch.
After the take over of Countrywide financial by Bank of America, the BofA plans to modify around $50 billion of home loans in order to avoid the customers face Bank of America foreclosures or Countrywide foreclosures. This move has helped more than 300,000 homeowners in retaining their house and not losing the same to Countrywide foreclosures. For Countrywide home loan borrowers, the decrease in housing rates of California has proven to be beneficial. You can visit the foreclosure center of the bank for information on the same. The bank officials will explain everything related to it and solve all your queries.
Countrywide Online Banking
The Countrywide financial corporation used to give out an online banking service with the help of this, its customers can access their account from any where at any time. All the banking transactions such as checking the account status, savings account, paying of bills and applying for loans can be done online. You can even login to your account and transfer funds from one account to the other. All you require is a unique login id and a password to sign in to your online account. The Internet banking system has made banking comfortable.
Careers with Countrywide
In order to apply for a career with Countrywide financial corporation, you must meet the required qualifications. A career with Countrywide is same as a career with Bank of America. This is because Countrywide does not operate using its old name after its merger with BofA. You can contact the bank by sending them your resume. The bank's concerned department would get in touch with you, if your resume meets their standards. They have careers for fresh graduates as well as professionals. You can find out about the current vacancies and jobs by visiting the bank's official website.
Routing Number or Countrywide Financial
Routing number is also called the ABA number given to each financial institution in the United States of America. This number is a unique number which makes transfer of funds easier from bank to the other or from one branch to the other. Some routing numbers are mentioned below:
Northern California: 026009593
Southern California: 026009593
Florida West: 026009593
Florida East: 026009593
For more details on Countrywide Financial or the Bank of America, you can either call them on their customer service phone number 1-866-642-0986 from Monday to Friday at between 7.00 am to 10.00 pm or log on to the link http://my.countrywide.com/ .