Industry News

Countrywide reports rise in real estate loan fundings

Home equity products post biggest gains in April
Published on May 10, 2006

Mortgage loan fundings for the month of April totaled $36 billion, rising 5 percent from April 2005, Countrywide Financial Corp. announced today. That brought year-to-date fundings to $139 billion, up 11 percent from last year. Monthly purchase volume was $16 billion, a decline of 3 percent from April 2005. Year-to-date purchase activity totaled $63 billion, an 8 percent increase from last year. Adjustable-rate loan fundings for the month of April were $17 billion, a decrease of 12 percent from April 2005. Year-to-date adjustable-rate volume totaled $69 billion, up 1 percent from last year. Home equity loan fundings for April rose by 11 percent from April 2005 to $3.9 billion, which brought year-to-date home equity loan fundings to $15 billion, up 22 percent from last year. Nonprime loan fundings in April were $3.3 billion, which compares with $2.9 billion for the same period last year. Year-to-date nonprime volume totaled $12 billion, which compares with $13 billion produced for the...

Comments