Countrywide Financial Corp. today reported consolidated net earnings of $582 million for the third quarter.

That’s compared with net earnings of $1.1 billion in the third quarter of 2003, the most successful earnings in the company’s history.

Earnings per diluted share for the third quarter were $0.94, a drop from the third quarter of 2003, which saw earnings per share of $1.93, the company’s highest quarter on record.

Pre-tax earnings in the mortgage banking segment were $633 million, which compares to $1.5 billion for last year’s third quarter.

Pre-tax earnings from diversified businesses rose 13 percent over last year to $291 million, fueled by the continued growth of the banking segment, which nearly doubled its earnings over the previous year, according to a company statement.

Total loan production volume was $92 billion for the quarter, down 27 percent from the comparable quarter last year as a result of a 55 percent decline in refinance volume. Partially offsetting the decline in refinance volume, purchase fundings rose 35 percent from the third quarter of 2003 to $52 billion.


Send tips or a Letter to the Editor to or call (510) 658-9252, ext. 140.

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