Countrywide Forms Joint Venture in Hawaii

Countrywide Home Loans Inc., Calabasas, Calif., and Stanford Carr Development LLC, a Honolulu-based residential developer, have announced the formation of a joint venture to offer a variety of home financing programs in Hawaii.The joint venture, Inter Island Home Loans, will be an operating division of Countrywide Mortgage Ventures LLC. It will offer zero-downpayment loans and various fixed- and adjustable-rate options, the companies said. A Stanford Carr home counselor and an Inter Island loan counselor will help borrowers who buy Stanford Carr homes develop a custom financial package, they said. Among the available options are a Fast & Simple program for borrowers with excellent credit that forgoes a traditional loan application, a Streamlined UpFront Approval program, and limited free interest rate protection, the companies said. Countrywide can be found online at http://www.countrywide.com.