Downey Financial Corp.'s volume drifted down at for the third consecutive month.
Single-family loan production in November neared $1.0 billion, off about $0.1 billion from a month earlier and down $0.4 billion from a year ago, according to Downey's selected financial data report released today.
Fundings have slipped each month since August.
The Newport Beach, Calif.-based company said the latest numbers included over $0.02 billion in subprime loans.
Mortgage loans serviced for others totaled $10.5 billion at month's end, Downey reported.