| Subprime Production Jumps at Countrywide
Home equity fundings strong April 9, 2003 By MortgageDaily.com staff |
| After falling last month, one of the nation’s biggest conforming lenders saw subprime fundings increase in March to the highest level this year.
Subprime production at Countrywide Financial Corporation was $1.3 billion last month, the company reported. In February, subprime fell below $1 billion from $1.1 billion in January. Countrywide said fundings of home equity loans reached nearly $1.3 billion compared to $1.1 billion the prior month. The mortgage giant reported that total mortgage production, including conforming and subprime, reached $38 billion in March. |
