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| Downey Fundings Fall 20%
$0.4 billion November production
December 15, 2006
By MortgageDaily.com staff
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The servicing portfolio and monthly mortgage fundings sank at Downey Financial Corp.
The Newport Beach, Calif.-based lender reported $0.4 billion in November originations, down from $0.5 billion the month before. A year earlier, fundings were $1.0 billion.
The mortgage servicing portfolio was $5.8 billion as of Nov. 30, tumbling from $6.6 billion in October. The weighted average interest rate on the portfolio was 5.73%.
Downey reported "loans receivable held for investment" of $16.5 billion.
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