PASADENA, Calif. -- Countrywide Credit Industries Inc., the nation's largest residential mortgage lender and servicer, said its single-family mortgage servicing portfolio increased to $101.1 billion as of Sept. 30, up 37% in the last year.
David S. Loeb, chairman, said the expansion was the second biggest for any month in the company's history. "Bulk acquisitions remain an important strategy for the continued growth of our servicing portfolio and amounted to $3.2 billion during the month," he said.
He also said average daily applications were the highest in six months and that loans for home purchases exceeded 80% of total fundings for the third consecutive month. The company funded $2.1 billion of residential home mortgages in September 1994, down sharply from $4.5 billion in September 1993.