The Association of Community Organizations for Reform Now has launched a telephone and door-to-door campaign financed by Countrywide Financial Corp. to find Gulf Coast evacuees and put them in touch with their lender.The program is being undertaken in Houston, Dallas, San Antonio, New Orleans, and Baton Rouge, La. The canvassing follows newspaper advertisements placed by Countrywide last month that encouraged its customers to call the company and listed the ACORN Housing Helpline as an intermediary for customers of other mortgage companies. "ACORN Housing has been able to assist almost all the Katrina survivors we have worked with in making arrangements with their lender to protect their home and their finances," said Dorothy Stukes, president of the ACORN Katrina Survivors Association. "But everyone needs to get in contact with their lender or ACORN Housing as soon as possible." Michael Gross, managing director of mortgage servicing at Countrywide, noted that the company has suspended mortgage payments and credit reporting for customers victimized by the storm, but that "despite our best efforts to reach them, there are still a number of customers who we have been unable to reach, limiting our ability to provide assistance to them." The company, based in Calabasas, Calif., can be found online at http://www.countrywide.com.
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Mortgage Bankers Association economist Marina Walsh said lenders could be failing to close more loans as more consumers apply with multiple originators.
9h ago -
Transunion will offer the credit scoring model for $4 in 2026, following previous moves made by VantageScore partners Experian and Equifax.
October 18 -
Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
October 17 -
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
October 17 -
Regulators also accused Southern California-based E Mortgage of failing to properly supervise remote employees and cooperate with their examinations.
October 17 -
While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.
October 17