Get Your Mortgage Rate Quote in Just 30 Seconds

Mortgage rates change every day, and your rate will vary based on your location, finances, and other factors. Get your FREE customized rate comparison below.

$29 Billion October Production at Countrywide

$29 Billion October Production at Countrywide

Servicing portfolio reaches $621 billion

November 12, 2003

By staff

Production at Countrywide continued to decline in October.

National mortgage originator Countrywide Financial Corp. said that “as expected,” loan fundings in October decreased from the prior month’s $33 billion to $29 billion. A year ago, fundings were higher at $35 billion.

Purchase fundings of $12 billion, up 32% from last October, accounted for 43% of total loan fundings, said the Calabasas, Calif.-based company.

Fundings from Countrywide’s consumer markets division were reported at $8.2 billion. The wholesale lending division funded $6.2 billion, the company said, and the correspondent lending division purchased $10.9 billion. The remaining production was funded by the capital markets unit and Treasury Bank.

Loans serviced totaled $621 billion, said Countrywide. The milestone total broke September’s record of $606 billion and represents a 47% increase from $422 billion last October.

Delinquency was reported at 3.54%.

Popular posts

7 Refinance Strategies
7 Refinance Strategies

Refinance to a lower interest rate: If interest rates have dropped since you took out your original mortgage, refinancing to a lower rate can help you save money on your monthly payments and reduce the overall cost of your loan. Refinance to a shorter loan term:...

7 Refinance Strategies
Is Refinancing With Your Present Lender Preferable?

Do Not Accept the First Refinancing Offer You Receive Homeowners should not accept the first refinancing rate provided to them. This is particularly important if you are applying with your existing lender. Some mortgage lenders have mechanisms in place that prioritize...


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

Fannie Mae Profile

Fannie Mae Profile

Last Updated December 27, 2018 7:38 PM Central   full list | other directories | bank search | SEC...