Countrywide July fundings $52
August 11, 2003
By MortgageDaily.com staff
|Countrywide Financial Corporation reported a record level of activity last month.
The Calabasas, California lender said mortgage loan fundings reached $51.8 billion during July, an all-time high according to the announcement of operational data. Production was reported at $48 billion in June, and a year ago, production was reported at $17.1 billion.
Countrywide reported wholesale fundings of $10.5 billion and correspondent fundings of $24.3 billion. Consumer fundings were $12.9 billion, with other sources reported at $4.1 billion.
The mortgage giant said purchase fundings were 26% of its business, while non-purchase fundings were reported at 74%.
The Mortgage Bankers Association of America reported last week that refinance applications have fallen nearly 60% from their June highs; Countrywide, along with the rest of the nation’s mortgage lenders, could expect to see non-purchase activity drop off proportionately in the coming months.
Countrywide reported that its servicing portfolio reached $577 billion, while its portfolio delinquency was reported at 3.78%.
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,...