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The reason for the JV between the two is this.
Jan 10 12:30 pm
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All Comments by outtheresomewhere »KB Homes Betting On Countrywide Just As Market Kills It [View article]
KB Homes at one time had their own mortgage division. KB homes got caught with a larger than average amount of loan defaults. In 2005, the Feds forced KB to closed and sell their mortgage division. Who bought the mortgage division you might ask. Countrywide did.
In 2005 no one cared this was like page 10 news.