Countrywide Home Loans is now known as Bank of America Home Loans, which now works as the mortgage unit of Bank of America. In 2005, 5th June, Bank of America announced that they have gained approval from the respective board of state governors and they can now purchase Countrywide Financial Corporation. In 2008, the company made another important announcement that the owners have received permission from 69% of company's shareholders regarding the merger with the home loan providing company. Finally, in July of 2008, the company succeeded in purchasing Countrywide Financial Corporation and it helped the owners to extend their services in different locations.
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