Production reaches $42 billion in April
By MortgageDaily.com staff
5/12/2003

Loan business continued its record-smashing levels for Countrywide, according to the company's April production report.

Loan fundings for Countrywide Financial Corporation totaled $42 billion for the month, up 12 percent from the record-setting $38 billion figure in March, according to the report.

A slowdown occurred, however, in the California-based company's average daily application rate, down to $2.3 billion from March's $2.7 billion, the reports showed. Still, the April number ranked the second-highest in the company's history, the statement said.

Also, production pipeline closing totals edged downward in April, to $57 billion from March's $59 billion, according to the company's monthly production reports.

The company's loan servicing portfolio scored a new record, totaling $520 billion at month's end, the statement said.

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