Mortgage loan fundings at Countrywide Financial Corp. totaled $44 billion in July, up 48 percent from the same month a year ago, the lender said today.

Countrywide’s year-to-date mortgage loan fundings were $256 billion, according to the company’s latest operational data released today.

As lenders race to gain share of mortgage purchase activity, Countrywide said its monthly purchase volume was $21 billion, a 20 percent increase from July 2004. Year-to-date purchase activity totaled $123 billion.

Countrywide began the second half of the year with solid operational performance, said Stanford Kurland, president and chief operating officer.

“August began with a $77 billion pipeline of mortgage loan applications-in-process, indicative of continued strong mortgage loan production for the near-term,” he said.

Total assets at Countrywide Bank reached $70 billion at the end of July, he added.

Highlights from Countrywide’s July operational data include:

  • Adjustable-rate loan fundings for the month reached $23 billion, rising 37 percent from July 2004. Year-to-date adjustable-rate fundings totaled $139 billion.

  • Monthly home equity loan fundings for July increased by 28 percent from July 2004 to reach $3.6 billion, bringing year-to-date home equity production to $23 billion.

  • Nonprime loan fundings totaled $3.7 billion in July, a decline of 3 percent from July 2004. This brought year-to-date nonprime fundings to $24 billion.

  • Average daily mortgage loan application activity in July was $3 billion, 48 percent greater than the July 2004 level. The mortgage loan pipeline increased by 60 percent from July 2004 to reach $77 billion at July 31, 2005.

  • The mortgage loan servicing portfolio continued to rise, reaching $991 billion at July 31, an increase of $244 billion, or 33 percent, from July 2004.


Send tips or a Letter to the Editor to or call (510) 658-9252, ext. 133.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription