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KB Home (KBH Quote) will sell the assets of its mortgage unit KB Home Mortgage to Countrywide Home Loans, a division of residential lender Countrywide Financial (CFC Quote).
The companies also formed an equally owned joint venture that will make residential loans to KB Home customers. The terms of the agreement weren't disclosed.
Countrywide's home loans will now be available to KB homebuyers through counselors serving KB Home's U.S. communities. Countrywide will have day-to-day oversight of the joint venture. ...
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