Countrywide Financial Corp.’s total loan fundings for October were $29 billion, a decline of 6 percent from the prior month but an increase of 1 percent from October 2003, according to the company’s October operational data released today.

Other highlights include:

  • Monthly purchase volume was $15 billion, a 12 percent decrease from the previous month but a 20 percent increase over October 2003’s level. Year-to-date purchase activity now stands at $145 billion, exceeding 2003’s full year level of $130 billion.

  • Adjustable-rate fundings were $16 billion, a 22 percent drop from the September, but a 53 percent jump from October 2003. Year-to-date volume reached $155 billion, an increase of 69 percent over calendar 2003 volume.

  • Home equity funding activity of $3 billion was 73 percent more than October 2003, but down 4 percent from last month. Year-to-date home equity production reached $25 billion.

  • Subprime volume totaled $3.3 billion, rising 35 percent from last October, but falling 16 percent from last month. Year-to-date subprime volume totaled $32 billion.

  • Average daily application activity was $2 billion during October, a decline of 5 percent from the prior month, but 27 percent greater than October 2003.

  • The pipeline of loans-in-process on Oct. 31 increased by 2 percent over last month to $52 billion, and was 22 percent greater than a year ago.

Countrywide is headquartered in Calabasas, Calif.


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
Thank you for subscribing to Morning Headlines.
Back to top
Leaders from across the industry answered our call to come to Inman Connect and share essential advice for leveling up your 2021.SEE THE SPEAKERS×
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