Delinquencies on subprime home loans that Countrywide Financial owns or services for other investors rose to 19 percent by the end of 2006, up from 15.2 percent at the end of 2005 and 11.3 percent at the end of 2004. Subprime loans pending foreclosure also rose to 3.53 percent, compared with 2.03 percent at the end of 2005 and 1.74 percent at the close of 2004, Countrywide said in its annual report to investors. The $116.2 billion in subprime mortgages serviced by Countrywide account for 9 percent of the lender's $1.28 trillion owned servicing portfolio. Most of the servicing portfolio -- 83 percent, or $1.06 trillion in loans -- consists of conventional mortgages. Those loans had a delinquency rate of 2.76 percent at the end of the year, up 16 basis points from the end of 2005. The fo...
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