Univision.com Launches the "Casa" Channel; New Site Serves U.S. Hispanics By Creating The First Online Spanish-Language Resource For Home Buying And Home Ownership

Business Wire, Feb 5, 2001

Business, Entertainment and Online Editors

LOS ANGELES--(BUSINESS WIRE)--Feb. 5, 2001

Univision Online, Inc., the online subsidiary of Univision Communications Inc. (NYSE: UVN) together with Countrywide Home Loans Inc., (NYSE: CCR) and Fannie Mae (NYSE: FNM) the nation's largest source of financing for home mortgages, announced today the launch of "Casa," a new channel on Univision.com. Casa is the first online Spanish-language resource for home buying and home ownership and was created to help increase the home ownership rate among the nation's 33 million Hispanics by providing the necessary home buying information, tools, and the ability to apply for a loan online.

Countrywide, one of the nation's largest home mortgage lenders, will provide consumers with mortgage information and the ability to apply for a loan online at the "Casa" Channel. Fannie Mae will provide the technology enhancements that enable the lender to provide additional mortgage products on the site. The Casa Channel provides consumers with critical information about the mortgage process, including the importance of understanding their credit status, when and how to refinance an existing mortgage, an overview of home improvement projects and financing, a comprehensive glossary of key mortgage- related terms, and Fannie Mae's True Cost Calculator. The True Cost Calculator is an online tool that helps consumers calculate all the costs of getting a mortgage, including interest rates and points, mortgage insurance costs, appraisal fees, title insurance fees, and other settlement charges.

"By working with industry leaders like Countrywide and Fannie Mae, we are taking a significant step toward bringing the full scope of home ownership opportunities offered online to Spanish-speaking internet users, who have been underserved until now," said Javier Saralegui, President, Univision Online. "Univison.com's Casa Channel will provide the U.S. Hispanic community with online information and tools to make home ownership a reality."

In 1999, 45.5 percent of Hispanic Americans owned their own homes. With the creation and launch of "Casa", Univision.com, Countrywide, and Fannie Mae hope to help increase that number.

"Our association with Univision.com and Fannie Mae is an extension of our commitment and concerted effort to provide home financing opportunities to Hispanic consumers," said Angelo Mozilo, Chairman of Countrywide Home Loans. "We designed the information for Univision.com with a single goal in mind -- to facilitate homeownership for the Hispanic community by providing information and various services in Spanish."

As a leading lender to Hispanics in the United States, Countrywide will provide home financing services and educational materials on Univision.com. The company has developed tools and information to help first-time homebuyers estimate how much they can afford to pay for a home and how to take the first steps towards obtaining a home loan. Consumers will be provided with a toll-free number (888-SUCASA-3) that automatically connects them with Spanish-speaking loan experts who can respond to questions and assist with loan applications.

"Univision.com, Countrywide and Fannie Mae all share the goal of breaking down barriers to home ownership and reducing costs of mortgage financing to advance home ownership opportunities for Hispanic Americans," said Adolfo Marzol, Executive Vice President, and Chief Credit Officer of Fannie Mae. "This association is an important part of Fannie Mae's American Dream Commitment, a ten-year, $2 trillion effort to increase home ownership rates and serve 18 million target American families. One significant part of the American Dream Commitment, the National Minority Homeownership initiative, specifically seeks to create 5 million new minority homeowners by 2010. By working with industry leaders, like Countrywide and Univision.com, Fannie Mae can help to ensure that more Hispanics will benefit from home ownership," added Marzol.

In the Casa Channel, visitors can click on any one of the sections to gather important information. Key sections of the site include:

- Rent - Consumers will find renting information from a renters' point of view,
including background data on leasing, rental rates, and tenants' rights
information.

- Home Buying - This section contains a wide range of useful information on the
home buying process, including how to get started, what documentation is
needed, understanding credit, special calculators to determine mortgage costs,
and an online loan application and approval tool.

- Decorating - A resource filled with helpful hints and suggestions on how to
decorate your house to make it look and feel more like home.

- Gardening - Perennials and annuals -- this segment contains all the
information needed for aspiring "green thumbs."

- Remodeling - Learn ways to increase the value of your home by remodeling,
including the variables a consumer should consider when undertaking a
remodeling project.

- Repairs - Effective guidelines on home repairs and maintenance of your home.