$933.4 million January production
By MortgageDaily.com staff
2/15/2006

Downey Financial Corp. announced originations were off during the first month of the year.

Mortgage fundings in January were $933.4 million, falling from $981.1 million during December, the Newport Beach, Calif.-based lender reported today. A year earlier, production was $1.4 billion.

Downey said last month's numbers included $570.4 million in residential one- to four-unit originations, $251.1 million in "loans for sale: origination and purchases," and $19.2 million in subprime volume.

Mortgage loans serviced for others totaled $5.5 billion, according to the report.

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