| Subprime Business off at Countrywide
Production falls below $1 billion during February March 12, 2003 By MortgageDaily.com staff |
| Subprime fundings continued to soften at Countrywide Financial Corporation, with subprime mortgage production falling below $1 billion.
The Calabasas, California lender reported subprime fundings of $901 million last month, down from $1.1 billion in January and $1.2 billion in December. However, subprime lending was up nearly 60% from a year earlier. Countrywide said home equity fundings reached $1.1 billion in February, unchanged from the prior month. The company reported that its conforming production was $31 billion during the month, and its servicing portfolio reached nearly a half billion. |
