| $4.1 Billion in December Subprime, Home Equity Fundings at Countrywide
Annual production a record $20 billion January 13, 2004 By MortgageDaily.com staff |
| The subprime division of a Calabasas, Calif.-based lender announced milestone production.
Countrywide Financial Corp. said December subprime fundings reached $2.3 billion, which represents an increase from the prior month’s total of $2.0 billion and from last December’s total of $1.2 billion. Countrywide said that 2003 subprime production created a new annual milestone at $20 billion, which far exceeded the previous year’s record of $9.4 billion. Home equity fundings were reported at $1.8 billion for the month, up from November’s $1.6 billion. For the year, home equity fundings were $18 billion — up 55% from 2002. The company also announced that overall production increased 13% from the previous month and aided in the new full-year record total of $435 billion. |
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:...
