Rebuilding Together Receives $1.8 Million in Support from Countrywide Financial Corporation for 2007
Article type: Press Release
Washington, D.C. – April 26, 2007 –Rebuilding Together, the nation’s largest all-volunteer home rehabilitation organization, announced it has received major funding support for this year’s program initiatives, thanks to a financial commitment of more than $1.8 million for 2007 from Countrywide® Financial Corporation, America’s #1 home loan lender.*
This charitable contribution agreement between Rebuilding Together and Countrywide will help Rebuilding Together’s 240 affiliates around the country improve the homes and lives of homeowners in need, and will further position Rebuilding Together as a major national housing organization,” said Rebuilding Together President and CEO Gary Officer. “We are excited about our growing partnership with Countrywide and the expanded services it will allow us to provide in 2007.”
Rebuilding Together, established in 1988, is committed to bringing warmth, safety and accessibility to homeowners who do not have the financial or physical wherewithal to complete home repairs and other necessary improvements themselves. In 2007, Rebuilding Together expects to rehabilitate more than 9,000 homes and non-profit facilities with the help of business sponsorships, material donations and 270,000 volunteers.
Entering its 11th year as a key Rebuilding Together sponsor, Countrywide has committed to providing funding for home-repair projects in more than 50 communities. The corporate funds will be leveraged with the support of Countrywide employees volunteering to work at the project sites. In addition, 32 local Rebuilding Together affiliates across the country will receive Countrywide grants of at least $25,000 each to support organizational growth and help them provide more services in their communities. Countrywide will also partner with Rebuilding Together on National Rebuild Day, April 28, 2007, to rebuild homes in 40 markets. Countrywide was the first donor to provide at least a million dollars to Rebuilding Together in a single year and continues to be a major corporate sponsor.
”Countrywide’s selection of Rebuilding Together as our core charity is a natural extension of our corporate commitment to lower barriers to homeownership and keep people in their homes,” said Angelo Mozilo, Countrywide’s Chairman and Chief Executive Officer. “By improving and preserving America’s affordable housing stock, Rebuilding Together helps thousands of low-income, elderly or disabled homeowners remain in place each year.”
In addition to providing Rebuilding Together and its affiliates with general program funding, Countrywide also is the founding sponsor of Rebuilding Together’s “Serving Those Who Serve” initiative and lead sponsor of the Gulf Coast “Rebuild 1000!” program.
Serving Those Who Serve, which was established in September 2005 and has received $1.2 million in funding from Countrywide, is dedicated to providing modifications and repairs to the homes of severely injured and disabled veterans returning from Iraq and Afghanistan. Rebuild 1000 is committed to rebuilding low-income houses that were damaged by Hurricanes Katrina and Rita. The program was initiated with a two-year commitment of $1.5 million in grants and matching funds through “Rebuilding with Countrywide,” the company’s multi-faceted initiative supporting short- and long-term hurricane-recovery programs in the Gulf Coast region.
“Serving Those Who Serve and Rebuild 1000 are just two examples of the ways in which Rebuilding Together has grown in recent years, thanks in large part to funding from Countrywide,” said Officer. “And these programs – coupled with our ongoing mission of providing home-repairs in 240 affiliate markets throughout the United States – stand as a testament to the organization’s ability to respond and adapt to the changing situations of homeowners in need across America.”
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About Rebuilding Together
Rebuilding Together is America's largest volunteer-based home-repair organization bringing volunteers and communities together to improve the homes and lives of homeowners in need. The nonprofit has 240 affiliates, mobilizes approximately 270,000 volunteers and renovates more than 9,000 homes per year. Rebuilding Together is celebrating the rehabilitation of its 100,000th home this year. For details, see www.rebuildingtogether.org or call 1-800-REHAB-9. *
About Countrywide Financial Corporation
Countrywide Financial Corporation is in its 11th year as a key sponsor of Rebuilding Together. Founded in 1969, Countrywide is America’s #1 home loan lender — as ranked for 2006 by Inside Mortgage Finance (Feb. 2, 2007), copyright 2007 – and is a member of the S&P 500 and Fortune 500. Countrywide, through its subsidiaries, provides mortgage banking and diversified financial services in domestic and international markets. Mortgage banking businesses include loan production and servicing principally through Countrywide Home Loans, Inc., which originates, purchases, securitizes, sells, and services residential loans. The company is headquartered in Calabasas, California, and has a workforce of more than 55,000 individuals and over 1,000 offices worldwide. For more information about the company, visit Countrywide’s Web site at www.countrywide.com.
Initiatives: Disaster Recovery and Reconstruction, Veterans Housing, Serving Those Who Serve