Ryland Mortgage picks Countrywide to service loans

Real Estate Watch

November 28, 1999

Ryland Mortgage Co. has selected Countrywide Home Loans Inc. to service loans made by Ryland.

"We have chosen the firm that we consider to be the top servicer of mortgage loans in the country as our business partner," said Dan Schreiner, president of Ryland Mortgage Co.

"This partnership will enable us to better serve our homebuyers with a number of additional services and expanded programs."

By logging onto www.countrywide.com, Ryland customers will be able to get payment history, payment status, make mortgage payments online and communicate with a servicing specialist through Countrywide's Internet home page.

Ryland, using Countrywide's system of exchanging loan information electronically, will be able to deliver a higher number of loans to Countrywide for purchase in a more efficient manner.

Company officials say this will reduce the amount of paper used, resulting in lower shipping costs and fewer errors in the loan process.

Ryland homeowners also will receive a series of home-related offers on their monthly statements.

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