Countrywide has new name

Countrywide Home Loans, which arrived in Medford at the end of 1998, has a new name.

The mortgage lender at 615 Medford Center is now known as Bank of America Home Loans.

In January 2008 Bank of America announced its plan to purchase Countrywide Financial for $4.1 billion in stock and in June of that year it received approval from the Federal Reserve System to complete the purchase.

Bank of America rolled out a new Bank of America Home Loans brand and Web site Monday.

Countrywide was the nation's biggest mortgage lender during many of the housing market's boom years. But its innovative and aggressive loan offers contributed to the nation's toxic mortgage problems.

The telephone number remains 858-5008.

— Greg Stiles

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