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Life is Good in Calabasas

Life is Good in Calabasas

Countrywide reports monthly summary

March 12, 2003

By staff

Loan fundings continued at a frantic pace at one of the country’s largest lenders. Countrywide Financial Corporation announced that loan fundings exceeded $30 billion for the fifth consecutive month.

The Calabasas, California mortgage banking concern reported $31 billion in loan fundings during February, a month with just 19 working days.

Countrywide’s February production was more than double the $14 billion funded February 2002, but down from $33.7 billion January and $35.2 billion in December.

Purchase fundings, which could likely become the bulk of Countrywide’s business in the event rates head up, were $6.6 billion.

The company’s servicing portfolio reached $484 billion.

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