Countrywide and Acorn to outline subprime agreement

LOS ANGELES (Reuters) - U.S. mortgage lender Countrywide Financial Corp CFC.N and housing advocacy group ACORN on Monday will announce details of an agreement to help delinquent subprime borrowers meet payment obligations and stay in their homes.

Executives from Countrywide and ACORN are set to discuss the pact to formalize and broaden Countrywide's previously announced $16 billion home retention initiative at a 1 p.m. EST teleconference, both said on Friday.

(Reporting by Gina Keating, editing by Richard Chang)