Countrywide Financial Corp. said today that mortgage loan fundings were down 9 percent at $42 billion for the month of December compared to the year ago period, but had risen sequentially from November, 2006. The Calabasas-based company reported purchase volume was down 20 percent to $17 billion compared to December, 2005. Nonprime loan funds fell too, to $3.7 billion from $4.4 billion in the year ago period. “While the 2006 mortgage market reflected excess capacity and strong competition, Countrywide’s total mortgage loan funding volume of $463 billion for the year was down less than 7 percent from the record level set in 2005,” said Countrywide Chairman and CEO Angelo R. Mozilo in a statement.
