Countrywide Avoids Controversy and Announces Good News!

Avoiding the issue of whether or not it created or contributed to the subprime mortgage problem, Countrywide promoted the ongoing efforts it is taking to curb forclusuers and the actions it is taking to work with distressed borrowers.

In its September 24th press release, Countrywide promoted its Home Retention Team / Preservation Program and announced the steps it is taking to save mortgages (35,000 so far) from foreclosure including telephone outreach and working with non-profit and community groups nationwide.

While Countrywide has received a significant amount of media coverage in the last few weeks, the company had little coverage as a result of this release. However, the first 2.5 Google pages are various sites/wires that posted the press release verbatim.