Website Targets Countrywide Loans
Countrywide Financial Corp. here is being targeted by a New York-based labor union, Unite Here, through a new website, www.eyeoncountrywide.info.
Kim Jackson of Unite Here said the organization looks to bring service workers up into the middle class and one of the ways to do that is through homeownership.
Countrywide came to its attention because it is one of the largest mortgage lenders in the nation and because it is one of the more mainstream players, she said. As of one of the larger lenders, it has the potential to set trends that affect consumers, especially the working families that make up Unite Here membership.
In addition to setting up the website, Unite Here sent a survey to 1,500 borrowers of Countrywide who took out option adjustable-rate mortgage products.
The union said it wants research customer experience, including knowledge of the terms of the loans at the time they were taken.
It is using the website to solicit more responses for the survey.
Ms. Jackson said there is a possibility Unite Here will consider similar activities for other lenders, depending on what is the response to its website and survey.
Countrywide did not return a request for comment.
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