Mortgage Daily Logo
mortgage news from industry experts

$38 Billion March Production at Countrywide

$38 Billion March Production at Countrywide

Servicing portfolio tops $1/2 trillion

April 9, 2003

By MortgageDaily.com staff

First quarter loan production at one of the country’s largest mortgage lenders reached a record level.

Countrywide Financial Corporation reported $38 billion in March fundings, a 23% jump from February and nearly one and one-half times more than a year ago. At $102.4 billion, production during the first quarter reached a milestone.

“The positive momentum created by low mortgage rates in 2002 has been carried into the first quarter of 2003, with clear indications that it will be sustained in the near-term,” said Chief Operating Officer Stanford L. Kurland.

Broken down by origination channel, consumer markets and wholesale lending each represented about 24% of the total, with correspondent lending taking up just a tad more than half.

About one-fourth of production for the Calabasas, California company was for purchase.

Countrywide said its servicing portfolio now exceeds 4 million loans and one-half trillion dollars. Delinquency was reported at 3.77%.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION