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| Decline Continues at Downey
February production$824.8
March 15, 2006
By MortgageDaily.com staff
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Production slowed at Downey Financial Corp. in February.
Last month's fundings of $824.8 million fell from January's $933.4 million and are below the $1.3 billion originated a year earlier, Downey announced today.
The latest volume includes $509 million in residential one-to-four unit loans, $295 million in originations and purchases for sale, and $16 million in subprime loans, according to the announcement.
The Newport Beach, Calif.-based lender said it serviced $5.6 million in loans for others.
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