Top Lender to Minorities

Countrywide Home Loans recently announced that, based on 2003 Home Mortgage Disclosure Act data, it is the nation's leading mortgage lender to emerging markets. The financial institution provided almost $75 billion to those markets including 12.6 percent of all home loans to Hispanics, 9.6 percent of home loans to African Americans, 13.7 percent of home loans to Asians and 27.3 percent of home loans to American Indians. The bank said those figures result from efforts to hire multicultural employees, expand marketing to minority groups, strengthening intermediary relationships, developing products geared to those groups, and holding educational initiatives among the groups' members.

Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 1, 2/05