Mortgage Daily

Published On: February 12, 2003
January Production off at Countrywide

Record portfolio size nearing 1/2 billion dollars

February 12, 2003

By MortgageDaily.com staff

Countrywide Financial Corporation’s production in January skyrocketed past last year’s — but it didn’t quite match December’s grand funding finale.

The Calabasas, Calif.-based company produced $33.7 billion in loan fundings last month, a hair off from December’s $35.2 billion. But it more than doubled the $14.8 billion in fundings from January 2002.

Purchase fundings came to $7.8 billion during the month, $3 billion more than last year at this time. It’s a billion less than December’s purchase fundings, however.

“January’s operational results clearly reflect the company’s success in capitalizing on the tremendous opportunities presented by the low interest rate environment,” CEO Stanford L. Kurland said.

The lender’s servicing portfolio hit a record $469 billion. This was achieved by producing considerably more loans than those that prepaid, the company said. Its mortgage loan pipeline closed at $48.2 billion by January’s end, which more than doubled last year’s $23.0 billion.

Countrywide was co-founded by Kurland in 1969. Its shares were up $0.12 at $53.35 during late-morning trading, according to CBSMarketwatch.com.

FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator

Tags

Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Days with Today’s Latest Rates

Mortgage

Today’s rates starting at

4.63%

5/1 ARM
$200,000 LOAN

Home Refinance

Today’s rates starting at

4.75%

30 YEAR FIXED
$200,000 LOAN

Home Equity

Today’s rates starting at

3.99%

3 YEAR
$200,000 LOAN

HELOC

Today’s rates starting at

2.24%

30 YEAR FIXED
$200,000 LOAN