Why do FHA and/or VA repos ask for a prequalification letter from Countrywide Home Loans?
I suspect that Countrywide is the lender of the record on the homes that are FHA or VA foreclosures which is why Countrywide is the company you are instructed to work through for pre-approval. Usually, they want you to become pre-approved with them to make sure you meet their standards, but you do not need to use them as your lender for the purchase. Countrywide, for all its previous issues, was and is one of the most comprehensible sources of mortgages. When no one else would work with an FHA or VA loan, they would and they had the trained personnel to do it.
