Daily Real Estate News | February 19, 2008
Countrywide Financial Corp., the nation's largest mortgage lender, says loan delinquencies as a percentage of unpaid principal balance increased to 7.47 percent in January from 4.32 percent in January 2007.
Foreclosures pending as a percentage of unpaid principal balance increased to 1.48 percent in January from 0.77 percent in January 2007.
The rise in foreclosures and late payments reached record levels in January, according to Countrywide.
Countrywide says it funded $21.89 billion of home loans in January, down 41 percent from $37.11 billion a year earlier. Average daily loan applications totaled $2.64 billion, down 6 percent from $2.82 billion a year earlier.
Source: The Associated Press, Alex Veiga, and Reuters News, Jonathan Stempel (02/15/08)
Foreclosures pending as a percentage of unpaid principal balance increased to 1.48 percent in January from 0.77 percent in January 2007.
The rise in foreclosures and late payments reached record levels in January, according to Countrywide.
Countrywide says it funded $21.89 billion of home loans in January, down 41 percent from $37.11 billion a year earlier. Average daily loan applications totaled $2.64 billion, down 6 percent from $2.82 billion a year earlier.
Source: The Associated Press, Alex Veiga, and Reuters News, Jonathan Stempel (02/15/08)
