Industry News

Real estate loan fundings climb at Countrywide

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Mortgage loan fundings at Countrywide Financial continued to climb in September, reaching $49 billion, a 58 percent increase from the same month a year ago, according to data released today. For the third quarter, Countrywide's mortgage loan fundings were a record $146 billion, up 59 percent over last year's third quarter, and year-to-date mortgage loan fundings were $358 billion. Meanwhile, monthly purchase volume was $23 billion, up 35 percent from September 2004, and third-quarter purchase volume was a record $69 billion, up 32 percent from the same quarter last year. Purchase volume so far this year totaled $171 billion, the company said. "Overall, our operational performance for the nine months of 2005 has been robust, with some key metrics poised to break full-year records," said Stanford L. Kurland, president and chief operating officer. Other highlights from Countrywide's September and third-quarter operational data included: Adjustable-rate loan fundings for the mon...