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.