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Countrywide Home Loans Home Loans selected Master Servicer for Mortgage Revenue Bond Program

KANSAS CITY, Missouri -- Countrywide Home Loans Home Loans Home Loans has been selected to serve as Master Servicer for the Missouri Housing Development Commission’s Mortgage Revenue Bond Program loans. The company will provide loan servicing for all single-family bond issues released after Aug. 1, 2001. This contract is for a three-year period. 

Countrywide Home Loans Home Loans is headquartered in Moorpark, Calif., and has several offices in the state of Missouri.
“Countrywide Home Loans Home Loans is a national originating lender as well as Master Servicer for other state’s MRB programs. They have originated more MRB loans in the past year than any other lender in Missouri’s program,” said Erica Dobreff, MHDC Deputy Director/Production.
Countrywide Home Loans Home Loans replaces Town & Country Mortgage Company, a St. Louis-based organization that has served as MHDC’s first Master Servicer since May 1998.

“Town & Country has served us well over the last three years,” said Dobreff. “They have provided excellent service with a quick response time. The Countrywide Home Loans Home Loans bid simply provided additional revenues”. Revenues from the Master Servicer program are used by the Commission for additional housing programs.

Countrywide Home Loans Home Loans was one of five groups who submitted proposals. Submissions were also received from: Town & Country Mortgage; Delmar Financial, of St. Louis County; Firstar of Owensboro, Kentucky; and Leader Mortgage of Cleveland, Ohio. These bids were submitted in response to a Request For Proposals issued by MHDC in March.

The bid form submitted by each company required that the bids be specific to Ginnie Mae Certificates at and Fannie Mae mortgage-backed securities. Projects indicate that Countrywide Home Loans Home Loans’s proposal would produce almost $11 million in revenues.

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