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Thursday, Apr 25, 2024

Countrywide’s Mortgage Funding Still Weak

Countrywide Financial Corp. said today that mortgage loan fundings declined 11 percent to $38 billion from November 2005 levels and 8 percent compared to the prior month. Purchase loan funding fell 18 percent in November to $16 billion as compared with the prior year. Countrywide’s servicing portfolio, which has taken over the lion’s share of its mortgage business as the home sales market has slowed, increased 17 percent to $1.3 trillion as of November 30, 2005.

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