Countrywide Financial posts Dec. results |
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Fri, 12 Jan 2007 15:13
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CALABASAS, Calif. (AFX) - Mortgage lender Countrywide Financial Corp. said Friday mortgage loan fundings dropped 7 percent to $42 billion in December from the year-ago period.Monthly purchase volume fell 20 percent to $17 billion. Home equity loan fundings declined 19 percent to $3.3 billion, while nonprime loan fundings slipped 16 percent to $3.7 billion.Average daily mortgage loan application activity climbed 11 percent to $2.7 billion from the prior year. The mortgage loan pipeline was $57 billion at Dec. 31, compared with $60 billion a year ago.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Countrywide reports strong sales in first four months as housing boom continues 