home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map

twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

Countrywide Off Across the Board

$29 billion October production

November 9, 2004

By MortgageDaily.com staff

Even as Countrywide Financial Corp. saw production decline for the second month in a row, the company still reached a servicing milestone.

The lender announced October mortgage fundings of $29 billion, a 6% downturn from the previous month and almost unchanged from a year ago.

"Industry mortgage origination activity continues to decline, reflecting a seasonal slow-down in purchase activity, although a recent pick-up in refinance activity could partly offset this effect," said Stanford Kurland, the company's chief operating officer, in the announcement.

Purchase activity of $15 billion fell 12% from September and refinance loans nudged up over the $14 billion mark.

Adjustable-rate fundings plunged from the previous month to $16 billion, home equity originations of $3 billion swerved from an eight-consecutive-month climb, and subprime volume fell closer to $3 billion, the Calabasas, Calif.-headquartered company said.

Countrywide's correspondent channel reportedly contributed nearly $10 billion to October fundings, consumer market originations also accounted for about $10 billion and wholesale volume added $6 billion. Capital Markets and Treasury Bank fundings made up the remaining total.

A higher level of refinance activity pushed up the pipeline of loans-in-process to $52 billion as of the end of October, which "suggests continued strength in funding levels for the near-term," Kurland added.

On the servicing side, the portfolio reached a new record of $806 billion, escalating above the prior month's $786 billion that made Countrywide the nation's No. 1 servicer at the third quarter's end, the announcement said. The portfolio delinquency was reported at 3.92%, up 19 basis points from September. Meanwhile, the percentage of foreclosures pending edged up to 0.37%.

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders