Industry News

Countrywide boosts March totals while cutting pay-option loans

Delinquencies and defaults up from last year
Published on Apr 13, 2007

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by CareyBot

Countrywide Financial Corp. boosted loan production in March by 5 percent compared to last year, while drastically slashing fundings of risky pay-option loans. Countrywide’s total loan production of $43 billion for the month included $3.5 billion in pay-option loans, compared ...