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Thursday, Jun 1, 2023

Mortgage Lending Up at Countrywide

Mortgage lending picked up at Countrywide Financial Corp. in the month of January, increasing 13 percent to $37 billion as compared to January, 2006. Home equity lending for the same period rose 3 percent and non-prime lending was down slightly. On a consolidated basis, Calabasas-based Countrywide funded $2.7 billion in pay-option loans, down sharply from $6.9 billion in January, 2006. “Total mortgage loan fundings for the month were up 13 percent year over year, but were down 11 percent on a sequential basis, in part a reflection of normal seasonal effects,” said David Sambol, president and COO in a statement.

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