Countrywide (CFC) Loan Activity Takes Sharp Drop

Posted: December 13, 2007 at 8:12 am

According to numbers provided by Countrywide (CFC) Mortgage loan fundings for the month of November 2007 totaled $23 billion, a 40 percent decline from November 2006.

Average daily mortgage loan application activity for November 2007 was $1.9 billion, a 32 percent decrease from November 2006.  The mortgage loan pipeline was $43 billion at November 30, 2007, as compared to $62 billion for the same period last year.

Shares are down 3.3% on the news

Douglas A. McIntyre

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