Prepayments of mortgages in Countrywide Credit Industries' servicing portfolio jumped to $1 billion in June, reaching a rate of about 10% a year, the company reported.

Chairman David S. Loeb said the servicing portfolio nevertheless continued to grow, reaching $123 billion, up from $121 billion at the end of May. He noted that Countrywide, based in Pasadena, Calif., customarily offsets its portfolio runoff through increased originations and a financial hedge, which stabilize earnings from servicing.

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