In Brief: Countrywide Registers 21% Gain in Servicing

Countrywide Credit Industries Inc.'s servicing portfolio rose 21% last year, to $134 billion.

The portfolio had a weighted average coupon of 7.8% at the end of December compared with 7.4% a year earlier.

The company's production sector generated fundings of $2.96 billion in December, compared with $2.24 billion a year earlier.

Average daily applications increased to $192 million from $119 million a year earlier. The pipeline was $4.4 billion, up from $3.5 billion.

Prepayments in full were $1.6 billion, compared with $522 million a year earlier.

The servicing portfolio's delinquency rate rose to 3.52% at Dec. 31 from 2.16% a year earlier, primarily because of seasonality, portfolio mix changes, and aging.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER