$14.4 Billion June Production At CountrywideRecord purchase-money fundings
July 9, 2002 By MortgageDaily.com staff June mortgage loan fundings at Countrywide Credit Industries, Inc. were up five percent from the prior month to $14.4 billion. The company said average daily fundings during June were $718 million, sixteen percent higher than May. “Countrywide’s core mortgage banking business delivered strong performance in June,” said Stanford L. Kurland, chief operating officer of the S&P 500 company. “Driven in part by a decline in mortgage rates, average daily loan applications surpassed $1 billion, an increase of 22 percent from the prior month.” Purchase money fundings were particularly strong for the southern California-based lender, reaching a record $8.3 billion. Purchase fundings accounted for 58 percent of total fundings in June. “Countrywide’s strategic focus on the purchase market was evident in June as purchase fundings hit a new record of $8.3 billion, a 6 percent increase over the prior month,” Kurland said. “Countrywide’s success in capturing greater market share in the consistently growing purchase market will position us well for future production performance in the mortgage banking sector.” |
Countrywide reported that June fundings exceeded prepayments by $8.1 billion, leaving its servicing portfolio at $375 billion. Year-to-date fundings have exceeded prepayments by $42.3 billion.
|
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.
TOP SEARCHED TOPICS
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 Date with Today’s Latest Rates
Mortgage
Today’s rates starting at
Home Refinance
Today’s rates starting at
Home Equity
Today’s rates starting at
HELOC
Today’s rates starting at