Industry News

Countrywide reports rise in real estate loan fundings

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Mortgage loan fundings for the month of April totaled $36 billion, rising 5 percent from April 2005, Countrywide Financial Corp. announced today. That brought year-to-date fundings to $139 billion, up 11 percent from last year. Monthly purchase volume was $16 billion, a decline of 3 percent from April 2005. Year-to-date purchase activity totaled $63 billion, an 8 percent increase from last year. Adjustable-rate loan fundings for the month of April were $17 billion, a decrease of 12 percent from April 2005. Year-to-date adjustable-rate volume totaled $69 billion, up 1 percent from last year. Home equity loan fundings for April rose by 11 percent from April 2005 to $3.9 billion, which brought year-to-date home equity loan fundings to $15 billion, up 22 percent from last year. Nonprime loan fundings in April were $3.3 billion, which compares with $2.9 billion for the same period last year. Year-to-date nonprime volume totaled $12 billion, which compares with $13 billion produced for the...